Joint Freeholders blocking sale to SPV?Make Text Bigger
I have made an offer for neighboring property that is a flat in a block of 4. I have a right of way across their car park & have identified some development potential that I have previously discussed with the freeholders.
I set up an SPV (Single Purpose Vehicle Ltd Co.) with a partner and as part of the legal checks the other freeholders discovered that I was a director of the SPV. They have now convinced the vendor to reject our offer. I had a friend call the estate agent posing as a buyer and when he mentioned that he may use a SPV to purchase the property the agent categorically stated that they would not accept any offers from companies.
In light of the imminent arrival of S24 this seems rather short sighted and I would question whether the other freeholders have the ability to block the sale in this way. Any thoughts on how I could acquire this property without revealing my identity? A large part of me thinks it is not worth getting involved with a bunch of individuals that intend to be so difficult.
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