I am company secretary of a property management company for a leasehold block of flats. a unit has just been repossessed and a new lease has been prepared by the managing agents. The terms of the new lease which runs for 135 years beggar belief, the current proposed ground rent is £1000 pa rising to 1,024000 at the end of the term. The current leases are for 99 years from 1991 with ground rent rising by £100pa to £500 at the end of the term. If the management company sign this new lease I am concerned for the implications for the remaining 17 leaseholders in the block. I believe thre to be a conflict of interest as the freeholder, managing agent and proposed new owner of the repossessed have the same company director. Kind regards ***** ********@******.***
I am happy for you to continue searching for the right professional at this point.
I think we should close this enquiry at this point