Buying freehold title

H

houseclearou

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I have come across a commercial property that is for sale but has a leasehold title with about 130 years remaining and an annual rent of a few pence. I was wondering if anyone knows if it is possible to buy out the lease and obtain a freehold title? Or does this depend on the nature of the specifics of the current title and the person holding the freehold? I think I came across information previously that suggested you may be able to purchase a freehold title at a multiple of the annual rent. Any assistance appreciated.
 
You can buy the freehold. Details are ( or were) on Land Registry web site. Problems arise when the owner of title is old English landlord. Might not reply to your letters etc. In this instance, the Land Registry set the price for buying the title and the 'absentee' landlord has to agree to the price.

Not as cheap as multiple of the annual rent though. Think it is indexed.
 
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