Latest developments on the Section 5 Offer

Late December saw a new, revised Section 5 notice issued to leaseholders, replacing the original notice issued in September, which contained some inaccuracies and was challenged.

We have now received clarification of one important anomoly in the latest notice – which contained references to both the freehold and leasehold interest in the details of sale.

Property owners U and I plc have confirmed that the current Section 5 Offer relates to sale of the long leasehold on the building – and not, as previously indicated, the freehold.

We are presently seeking clarification on a number of questions which will assist leaseholders in deciding whether they wish to support acceptance of the offer to purchase the long leasehold. If we are to pursue the option to purchase, we need to have the signed support of a majority of qualifying leaseholders before the deadline of February 21.

 

 

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