Hazelvine
Freeholds
Developing leasehold property has an obvious benefit to developers which is that there is another saleable asset apart from the apartments themselves – the freehold.
There are a number of ways to sell a freehold investment and there are a number of ways to increase the value of that investment. We are happy to provide advice on freehold reversions to developer clients, to assist you achieve the best price for your investment and to make the process as quick and as simple as possible. The ideal situation is for a contract for the sale of the freehold to be entered into before plot sales commence.
However, where the majority of flats have been sold you are obliged to serve notices under section 5 of the Landlord & Tenant Act 1987, which is the tenants right of first refusal, and it is a criminal offence if you don’t. The process will incur legal fees but just as importantly can take a long time – in some instances in excess of 7 months.
Our legal department have built up a lot of experience over many years dealing with sales of freeholds prior to plot sales and also in dealing with Section 5 Notices, both in-house and acting for developer and investor clients. Our charges are very reasonable – for an initial discussion please contact legal@hazelvine.com
Ground Rent Collections
If you retain your freeholds and want an experienced company to collect your rents for you please contact us on info@hazelvine.com
Our fees are very reasonable ranging from 10% to 5% plus VAT depending upon the annual rent role and any management work.