- In this case it took nearly 2 years for leaseholders in a converted church in east London to serve notice to acquire the freehold of their building.
- The leases were approximately 73 years unexpired at the date of the Notice of Claim.
- myleasehold successfully negotiated a saving close to £170,000 down from the Landlord’s Counter Notice proposal. However, the delay in acquiring the freehold meant that the leaseholders paid a higher premium than they would have, if they had acted more quickly.
This case study illustrates the importance of acting as quickly as possible when considering an enfranchisement claim. The longer flat owners wait, the more the value of the freehold is likely to increase.