Case Study

Alvon Court, Mottram Road, (10 flats)

Details:

The residents of this block of 10 apartments wished to purchase the freehold to their block of flats, to include the car park and gardens. Each of the flat has approximately 91 years still to run and paid a ground rent of £50 per annum. The nominee purchaser Alvon Court (Freehold) Limited was established and nine of the ten flats participated in the purchase, following service of an Initial Notice on the Landlord we agreed a price with the Landlord, close to our original valuation. Legal completion took place about three months later.