Apologies fir my delay in coming back to you on the enfranchisement issue. There is criteria to satisfy. I set this out below:
- The building must contain at least 2 flats. From what you gave said the building contains more than two.
- 2/3 of the flats must be owned by qualifying tenants. Basically, the lease must have been granted for a term in excess of 21 years.
- the landlord cannot be a charitable housing trust
- No more than 25% of the building, excluding common parts, can be used for non residential purposes.
- Enfranchisement is prohibited if the building Is a conversion into 4 or fewer flats and is not purpose built and same person has owned the freehold since before the conversion and the freeholder or a family member has been resident for the past 12 months.
Once you establish whether or not you can enfranchisement you can proceed. You will need to consider if the leaseholders will own the freehold individually or in the name of a company. I would recommend a company of which the leaseholders will be shareholders.
Before serving notice, instruct a surveyor to provide a valuation and advise on the offer to put forward in the notice. This may not be accepted by the landlord and then the surveyor will need to negotiate on you behalf.
Once you have the valuation and know the offer to put forward you can instruct a solicitor to prepare and serve the notice on the landlord.
Once served the notice will trigger the statutory procedure for purchasing the freehold. It is best to use a solicitor to ensure that the notice is not incomplete and that there are no errors in the notice. An incomplete or incorrect notice can be rejected as invalid.
The statutory procedure has time limits within which various steps must be completed, for example the landlord must respond to the notice within 28 days, other requests for information or service of notice or documents, submission of the draft contract and any application to the tribunal.
I hope the above is helpful.
Please do let me know if you have any questions or queries in relation to my replies. I am happy to assist further. I can chat this through with you on the phone if you wish.
Please can I ask you to accept my answer /leave positive rating.