Several leaseholders have mentioned their interest in the possibility of purchasing lease extensions. Beaudream is in complete support of any leaseholder wishing to extend their lease. Current legislation entitles qualifying tenants to extend their lease by 90 years with any ground rent reverting to a peppercorn.
You should take initial advice from your solicitor or legal adviser; and in the case of a statutory lease extension, contact should be made with Sebastians Solicitors LLP, who are the legal advisers to Beaudream.
For a non-statutory lease extension, you should contact the surveyor advising Beaudream, James Rangeley MRICS at JSS Egerton. James has already worked with several Avenue residents who have chosen to extend their lease in the past year. Contact details for both advisors can be found in the Contact section of this site.
The terms for non-statutory are the same as for a lease extension granted under the legislation, although they can be agreed directly without the need to serve notice; a mandatory requirement of a statutory claim. It is also possible to complete the process in a shorter time frame.
