Hi All,

I have a BTL leasehold(76yrs remaining) 1st floor flat with a sizeable garden attached to the side of it. I have written to the Freeholders management company to see if the Freeholder would be interested in separating the garden from the flat leasehold so I could possibly purchase it from them as a separate lease or preferably a freehold site with the intension of building a house/bungalow on it. They have replied and have said (quote)

"My clients would be very interested in separating the garden from the flat to allow a development of a bungalow on same. They would not of course be prepared to dispose of this to you for a nominal price but would be prepared to come to terms.

You have not made any kind of proposal in money terms and I look forward to hearing from you further thereof."

....So now the ball is back in my court, and need to know how to reply to this to get some kind of deal in my favour!.

Any ideas anyone??
Thank you
Quentin

Hi Quentin
Have a hunt round the area then try and get an idea of plot values
work out your building costs, architects, solicitors, land investigation & survey costs, etc add it all up then compare it to your estimate of completed project values, get the lease checked to see if it included the land when leased to you then make an offer based on your sums
if the land was leased to you as part of the property, then it isn?t really worth much to the owner for another 70+ years, so bear that in mind before offering, get your solicitor to check it out then you'll know.

Good luck
Santiago