SIZE: 15 units AREA: Tower Bridge CLIENT: RMC
A purpose built single tower development comprising 13 residential flats and two commercial units on the ground floor.
We were approached by some very disgruntled leaseholders to see if we could help them. Despite being a residential area their freeholder had converted the commercial units into a lap-dancing bar with a late licence which was making the residents life a misery (for reasons that are probably obvious) as well as making it nigh on impossible for any landlord-owners to let the flats.
A majority of owners wanted to buy the freehold and despite the commercial units making up more than 25% (which negates leaseholders ‘right’ to buy or takeover management of a freehold) we were able to recommend a good property barrister who, after many months and a challenge in the high-courts, was enable to ensure the owners successfully took control of the freehold – and are currently undertaking a project to convert the former club into two residential units.