Re: Wheler Street

[Sam Faulkner]

Thanks for getting back to me.

My understanding of the way the purchase of the freehold works is that getting the individual leaseholders to support the purchase in principle is as important as who actually buys it.

The first hurdle we have to clear is to get a majority of leaseholders supporting a purchase (purchaser does not have identified at this stage).

So could we rely on you to support our efforts to buy the freehold- if it does not entail you having to buy your share?

As you probably know purchasing a share of the freehold automatically entitles the leasees to grant themselves 999 year leases, which I am sure would add more than the cost to the value of your place.

Best wishes

Sam

www.samfaulkner.co.uk

+44 (0)7973 883 690

On 24 Feb 2010, at 16:47, Fenner, James (GE Capital) wrote:

Yes and no......they wrote back to say that they could not help me any further!

 

Actually Sam, I have decided to sell my flat come November once the present lease expires as I want to buy a larger flat, more in the centre of town. I will therefore not be interested in buying the freehold.

 

I wish you good luck with the freehold purchase (generally a good idea) and would also float the question whether you know anyone in the block who would have interest to buy my flat...!?

 

Best regards

 

James

---

From: Sam Faulkner [mailto:s...@samfaulkner.co.uk]
Sent: 24 February 2010 16:23
To: Fenner, James (GE Capital)
Subject: Wheler Street

Hi James

Did you ever hear back from Herbert Reeves regarding your questions about the sale of Wheler Street?

We have about 10 people very keen to buy the freehold.

Where do you stand on it?

Best wishes

Sam

www.samfaulkner.co.uk

+44 (0)7973 883 690

<Logo (red) small.gif>

[Piers Kotting]

James. its also worth you knowing that we have our flat under offer at the moment and it may fall thru because the buyer is lacking confidence in management complany/freeholder.  If we buy the freehold and run the management company as owners all such problems should be a thing of the last! (we are in a sense involved in this current discussion both in case we don't exchange, and becasue the buyers have asked us to act on their behalf and they are keen to buy the freehold.

 

Piers