Owning your own home

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NickCJ in reply to @Glws

However if some of the owners can't make that investment, someone still has to pay for their share (of freehold ). You could build-up a group of residents willing to buy out all the shares?

The bit I would want to investigate wrt to this is whether the freeholder can somehow split the future units / development potential from the existing flats before granting enfranchisement. It does not help OP if residents buy shares of freehold relating to their own flats but the original freeholder still owns the loft space.

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Brommers in reply to @NickCJ

The bit I would want to investigate wrt to this is whether the freeholder can somehow split the future units / development potential from the existing flats before granting enfranchisement.

They could, by granting a long lease of the airspace above the building in which the development will be carried out. It's pretty common, although there may be LTA87 right of first refusal issues for the freeholder if they try to do that.

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