Purchase of freehold - loss of development rights
Other

Paul_295
Paul_295
0 Thanks
7 Posts
15 years ago
0
Dear Sir/Madam,

I am a lessee and together with 2 other lessees am negotiating the purchase of the freehold. We have agreed a price but the freeholder is also a lessee (of the basement) and wants us to grant a leaseback with extensive development rights including structural and basement development. I cannot agree as I would lose my tenant.

I have checked the law and there is no specific right to development rights but I am unsure what the LVT would consider reasonable for central London and would like to avoid the costs of the hearing if possible.

I would be grateful if you have any experience of this.

Regards

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.