Freehold sale opportunity?

[robuk]

https://www.pugh-auctions.com/property/18290 is on auction.

"A freehold site extending to approximately 1.7 Hectares (4.2 Acres) comprising the freehold to a number of residential properties (sold subject to existing leases) including roadways and adjoining parcels of land. The residential properties are subject to peppercorn ground rents."



I was speculating earlier with a mate if that is an opportunity or not, split it and sell all the leaseholders the freehold for a margin.

What would stop it being a great idea?

(If anyone does it, donations welcome )

[mjcneat]

Legislation may be coming in soon to fix the price of purchasing a freehold, so may not be a quick buck.

https://www.gov.uk/government/news/government-refo...

[av185]

Rather depends on how many properties there are.

[matjk]

Also how long the leases are and how much the ground rent is , if it’s £1 a year and 999 year leases there’s not much advantage in owning the free hold as a property owner.
It’s was to cheap so my guess is the above applies

[av185]

Only benefits are charges ££ following notice of sale or alterations.

[Birkin1932]

Be careful with Pugh Auctions, they seem to specialise in problem properties and look at their fees in the small print. The buyer basically pays for everybody

[surveyor]

Birkin1932 said:

Be careful with Pugh Auctions, they seem to specialise in problem properties and look at their fees in the small print. The buyer basically pays for everybody

I was looking at a site on Friday night let to a tenant. The tenant name is a completely different company... Legal pack also somewhat lacking!