Section 5 Offer accepted

On February 20, 2017 a notice of acceptance was issued to Waterfront Wakefield (Hebble Wharf) Ltd and their agents in response to the Section 5 Offer to purchase the long leasehold on the building. This acceptance was made possible with the support of a majority (29 out of a possible 44) of qualifying leaseholders.

At the same time, we once again questioned the validity of the Section 5 Notice (which contained contradictory statements regarding the offer) but we understand that the Notice has been deemed to be valid and we are now working on the assumption that each stage of the process must be completed in timescales determined from February 21.

We now need to ensure we have a robust offer that we can circulate to leaseholders who are considering an investment in the planned purchase. Ideally, the decision whether or not to proceed needs to be made by March 21, to avoid any unneccessary legal costs being incurred if we cannot proceed.

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