Buying the freehold of a group of of flats - good idea?

[philv]

Hi,

i own a flat in a converted townhouse.
There are 2 other lats, with 2 other landlords.

Leasehold on 970 year lease.
30 pounds a year ground rent.
No service charges (we arrange repairs between ourselves).

One landlord is refusing to pay or any repairs.
The lease holder doesn't want to take action as they don't get paid to do anything.

Would it be a good idea to buy the leasehold from the leaseholder?
Then i could take more serious action against the landlord who refuses to do things correctly, as per the lease.
It can't be worth that much.

Is that a good idea?

Or would it be a nightmare being the leaseholder or the 3 flats, when i only own one?

Thanks for any advice.

[Fat hippo]

You mean buy the freehold?
If so, if other leaseholders aren’t willing to pay their share of costs under the lease sounds like a lot of aggro for no real return….
Unless you are a builder and are using it as an opportunity to decorate and maintain the building and the building and get some profit that way.
Or build an extension and convert to another flat (not sure how on a townhouse)