Historic site with complex issues - site wide lease replacement and rectification

Thackray Williams represented the freehold company of a large historic site in South London comprising over 200 flats, several of which had defective leases. The site had complex issues including, needing lease extensions, missing modern covenants, misallocated parking spaces, and escalating ground rents that risked rendering the leases ineligible for statutory relief.
What We Did:

David Gibson, a partner and head of the Leasehold team, advised the board of directors (all resident volunteers) and prepared new leases to rectify the defects. He managed negotiations with numerous tenant solicitors, balancing residents’ needs to reduce or remove ground rents entirely with the freehold company’s need to retain them to service historic lending. 

This project has successfully granted 140 new leases, modernising the estate's legal structure and resolving various defects. With a total property value exceeding £49 million, the work is still in progress.

For more information and to speak to a Solicitor in our Leasehold team, please contact us on 020 8290 0440.