And the Law Commission has drawn up plans to protect householders by changing the valuation formula for freeholds
, so that it becomes cheaper for a leaseholder to buy their freehold
According to MP Gareth Thomas, around 30 properties were sold on the new Harrow View West site on a leasehold basis, but subsequent properties on the site were sold as a freehold
, often for the same price or even less.
ABP purchased the sites' freeholds
from Oceanic Estates who have owned the estates for 15 years.
? These freeholds
remained the property of the town until Kirklees Council sold 10,000 of them to a company called City and Metropolitan (Huddersfield) Ltd, of London, on March 23, 1994.
This general shortage of ready to go sites and lack of second hand stock will see industrial and distribution rents and freehold
values climb steadily in 2011, providing an opportunity for landlords and developers who can quickly bring the right sites and stock to market to meet the demand," said Mr Dillon.
This means that the owner of a flying freehold
does not actually own the structure which supports that part of his or her property.
Ultimately, the long-term prospects for the survival of greyhound racing at the GRA tracks, particularly such as Wimbledon with high freehold
value, will be determined by trading results raising the worth of the site as a going concern to a figure comparable with what could be received for redevelopment.
By following the freehold
as opposed to the leasehold route, companies will gain a valuable asset in the long term and any capital not spent on rent can be reinvested into the business.
She told the Commons: "Will the Minister also join me in imploring the Charity Commission to make it clear that while charities must act in the interests of their beneficiaries, that should not be at the cost of making life a misery for others?" Alok Sharma, the Minister for Housing and Planning, said officials from the Department for Communities and Local Government would contact the Mary Magdalene and Holy Jesus Trust to find a way for the leases to be extended or the freeholds
to be sold.
The Peach group of pubs has bought the freehold
of two of its most popular pubs in a deal worth nearly pounds 3 million.
Now landlords who have bought the freehold
to the properties are demanding occupiers pay ground rent, or buy the freehold
at a cost of thousands of pounds.
Mystery surrounds the ownership of his and other freeholds
on a dozen properties in Ouston, near Chester-le-Street.