Freehold Purchase in Cornwall?

[WingsofGold]

I'm quasi chair of the leaseholders of 10 new flats in Cornwall, the average market price of which is circa £225,000, and the leases of which are long, well in excess of 100 years. Ground rents are currently in the order of £150 per annum, but with increasing adjustments after 10 years, broadly in line with inflation.

We are being offered, individually, freeholds by the freehold owners at £15,000, i.e. £150,000 for the totality, and I'd be grateful for anyone's advice on this. Looking online at a purchase in Westminster of a freehold purchase of block of 40 flats for £150,000 so offer to us looked steep. I have looked at the calculations here in this website, based on reversion and capitalization, but being a simple naval chap didn't quite understand the terms nor the maths! Any help most appreciated.

[jeffrey]

I'm quasi chair of the leaseholders of 10 new flats in Cornwall, the average market price of which is circa £225,000, and the leases of which are long, well in excess of 100 years. Ground rents are currently in the order of £150 per annum, but with increasing adjustments after 10 years, broadly in line with inflation.

We are being offered, individually, freeholds by the freehold owners at £15,000, i.e. £150,000 for the totality, and I'd be grateful for anyone's advice on this. Looking online at a purchase in Westminster of a freehold purchase of block of 40 flats for £150,000 so offer to us looked steep. I have looked at the calculations here in this website, based on reversion and capitalization, but being a simple naval chap didn't quite understand the terms nor the maths! Any help most appreciated.
If these are flats, DO NOT BUY INDIVIDUAL FREEHOLD REVERSIONS!. Never ever sever- keep the block's f/r intact- or else you'll create unsalaeable (and unmortgageable) properties.

However, did you perhaps mean instead that all of the lessees have individually received Notices [e.g. under s.5 of LTA 1987] inviting them to intercept the L's proposed f/r sale ( using RFR- "Right of First Refusal")?

[WakeyWakey]

The maths are: -
Ground rent
£1,500.00 for 100 years @ 7%
1,500.00 x 14.269 = £21,404
Leasehold reversion
£2,250,000 deferred for 100 years @ 5%
£2,250,000 x 0.0076045 = £17,110

These two elements are then added together. It is hard to see how the freehold is worth more than £40,000 in total (10 x £4,000 shares, say) but there might be other factors that I do not understand (shared facilities, grounds with additional development rights etc.)