Selling your freehold interest in flats? Be aware of the right of first refusal
(WorldNews Business)

Many prudent developers who construct residential blocks of flats may seek to maximise their returns by selling the freehold reversion to an investor. However, whilst such sales may sound attractive, they can often become protracted and complex - and one of the principal reasons is the right of first refusal granted to long leasehold tenants under the Landlord and Tenant Act 1987 (the Act). There are many investors in the market who are interested in buying the ground rents of such blocks, particularly for large-scale developments. Such a...