Bevirs’CommercialTeam have a particular specialism in this work which can be significant to investors in properties subject to residential long leases.
Leaseholders of residential property are entitled to extend the lease of their flat or house. Lease extensions can add value to a property for leaseholders, and for freeholders, a lump sum will be paid for extending the lease.
Leaseholders can join together to buy the freehold of their block of flats (“enfranchisement”). The participating leaseholders can extend their leases, abolish ground rents and run the maintenance of the building.A premium will be paid to the freeholder.
Leaseholders can deal with a freeholder privately. However, there is a statutory procedure which gives more certainty, but which sets out a strict procedure and timescales for both landlord and tenant to follow. There can be substantial costs consequences if the procedure is not followed. If a freeholder is served with notice relating to a lease extension or enfranchisement, advice should be sought as soon as possible to ensure the correct procedure and timescales are met.
Bevirs can advise both tenants and landlords in this highly specialised area of work.
Bevirs Law is excited to announce the new appointment of Nicola Heales, Consultant Solicitor, who joins us to head up our Personal Injury and Clinical Negligence team.
Nicola qualified as a Solicitor in 1985 and is a personal injury and clinical negligence specialist, and her expertise is recognised by her accreditations with both the Law Society and APIL (Association of Personal Injury Lawyers). Nicola has been successful in a number of significant Personal Injury and clinical negligence cases during her career. Nicola has particular expertise in acting for people who have suffered brain and birth injuries as well as representing clients at inquests.
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