The following Property Q&A produced in partnership with Shabnam Ali-Khan of Russell-Cooke provides comprehensive and up to date legal information covering:
The Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) introduced the right to collective enfranchisement. This is a right upon qualification to acquire the freehold and any intermediate interests in the building.
LRHUDA 1993, s 3 stipulates that the premises must be:
a self-contained building or part of a building
contain at least two qualifying tenants
at least two-thirds of the flats to be held by qualifying tenants
no more than 25% on the internal floor area excluding common parts to be in non-residential use (this could include a shop or an office space for example)
Generally, qualifying tenants are those tenants who hold a flat on a long lease. Long leases will usually be those leases which were for a term of more than 21 years when they were first granted. However, there other long leases pursuant t
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