Selling freehold of small block of flats?

Selling freehold of small block of flats?

Freehold for sale sign with padlock and keys in front of an apartment block symbolising leasehold ownership transfer
12:01 AM, 15th April 2026, 7 days ago 22

I own the freehold of a small block of flats. I also owned all of the leasehold flats (jointly with another), which we sold in the last couple of years.

I now intend to dispose of the freehold and will, of course, offer it to the leaseholders as required. If the leaseholders do not wish to purchase the freehold, however, I understand it cannot subsequently be sold for less than it was offered to them.

So naturally, I’d like to have a formal offer from a willing buyer that I can use for the statutory first-refusal procedure as a reference. I’m aware I can get a surveyor to provide a freehold valuation, but that seems a less good option, given it’s not backed by actual intent to purchase at that value, which could trip me up down the road selling on the open market if the price is set too high.

I am not looking to maximise profit, I’m happy to pass the freehold onto the leaseholders for a lower end of fair market value, but I want to make sure I have viable options should they simply not wish, or agree to, purchase. I’d much value recommendations as to how to proceed and what institutional buyers I can approach that may be a good fit and are likely to engage?

Thank you in advance,

Gabriela


Share This Article

Comments

  • Member Since March 2020 - Comments: 188

    3:29 PM, 19th April 2026, About 2 days ago

    Reply to the comment left by Puzzler at 19/04/2026 – 12:55
    Hi. That is what I was intending to do. Sorry if my post wasn’t clear.

  • Member Since October 2022 - Comments: 408

    5:14 PM, 19th April 2026, About 2 days ago

    If they are three separate long residential leases then they each hold a separate title to their own lease.
    Their share of freehold interest in the building structure and the land it stands on in joint three way ownership in each title. < The leases share maintenance costs of the inside of the block under LTA, CLRA 2002 etc and separate costs to maintain the external structure of the building and Common Areas , the access and parking held under the Freehold title.Each lease has its own share of this freehold interest in its own title under LPA 1925 so another leaseholder cannot take someone else’s share of freehold leaving them with defective titles breaching their own mortgage agreements

Have Your Say

Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.

Not a member yet? Join In Seconds


Login with

or

Related Articles