Currell has an impressive track record of successes acting on behalf of lessees and lessors for lease extension and enfranchisement throughout London and the UK. Our knowledgeable team always acts in the best interest of our clients, providing sound advice and undertaking negotiations with other parties when required.
A lease extension is the continuation of a lease agreement beyond the original term. Most residential leaseholders have the right to extend their leases, If you have owned your flat for at least 2 years, and the original term of the lease is greater than 21 years, you have the right to extend your lease for 90 years at a peppercorn ground rent. Currell are well equipped to assist in the whole process.
Acting together with other lessees in the building, the freeholder can be compelled to sell his interest to the leaseholders through collective enfranchisement. There are certain restrictions; for instance, there would be no right to enfranchise where the building has more than 25% commercial space and two thirds of the flats in the building must be held by qualifying tenants. There are other restrictions, and we would need to work closely with your solicitor to establish whether or not the lessees qualify. We will be able to advise on the appropriate price payable for the freehold and conduct negotiations on your behalf.