Pimlico Freehold & Sublease

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Pimlico Freehold & Sublease

Postby Nick » Mon Aug 27, 2012 8:05 pm

This question is brought up by a lot coming up to auction

33 Moreton Terrace

Freehold (subject to a Headlease expiring on 24th December 2101 (thus having approximately 89 years unexpired at a ground rent of £16 per annum). The property is also held under Leasehold for a term of 99 years from 25th December 1951 (thus having approximately 38 years unexpired) at a current ground rent of £24 per annum.

The Freehold & the Sublease of the property are being sold. Is this a strange arrangement where there is a second party who is both Landlord and Tenant of the Freeholder?

Surely the value of the Headlease is simply 50% of the Marriage value of the Sublease?

Is there a clever way to get this reverted to Freehold?
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