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Oct, 2014

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  1. #1

    Default Buying a Leasehold from a Charity

    Hi

    I am looking to buy a long Leasehold (over 100 years) where the leaseholder is a charity - there are two other flats and one commercial unit in the building and all are let on long similar leases

    Would you see any problem extendig the leasehold ? buying the freehold ? how can i check exactly the status of my freeholder as I beleive it is a charity but not a charitable housing trust?

    Many thanks

  2. #2

    Default

    pls read where the freeholder is a charity

  3. #3
    Join Date
    Aug 2008
    Posts
    3,419

    Default

    You have the statutory right to seek a 90 year extension after being a leaseholder for 2 years.

    The right to collective enfranchisement ( buying the freehold) depends on floor area of the commercial unit. Cannot buy if commercial portion floor space exceeds 25% of the entire building.

    This information can be confirmed from the free guides at www.lease-advice.org

  4. #4
    Join Date
    Aug 2008
    Posts
    3,419

  5. #5

    Default

    thanks for that answer

    In regards of extending the lease - this is very good news indeed that I should not worry about the status of the charity - is this due to the fact I have a long lease and hence the flat is not used for the purpose of charity ?

    In regards of the freehold purchase - would you count the basement if any in those calculations ? I am suspecting there might be a basement below the commercial property with access from inside the restaurant - who shoud I ask for this you reckon as this will take the % from 25% to 40% ...

    many thanks

  6. #6

    Default

    tks for that link on charity comission - very useful indeed - I can definitely see that my freeholder is a registered charity but in eduaction - does that explicitely exclude it from being a charitable housing trust ? is there a register for housing trust ? can a charity move from eduation to housing trust ?
    I understand from the above that even if it were a chartiable housing trust, I would still be entitled to extending the lease ?
    Many thanks

  7. #7
    Join Date
    Aug 2008
    Posts
    3,419

    Default

    Your rights to lease extension are contained in a free publication available by download from www.lease-advice.org

  8. #8

    Default

    agree Gordon - I have followed your link - but those rights on the website exclude chartiable housing trust leasing for the purpose of charity hence my question about what is housing trust and is there a register for those ? and if any charity in education or any other freeholder can register itself as a housing trust ? and if the fact I am leasing long for over 100 years excludes the flat from being referred to as used for the purpose of charity ?
    Many thanks

  9. #9

    Default

    Would anyone be able to advise on the last post pls
    Many thanks
    Wissam

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