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.

 

 

Update on Hebble Wharf Freehold

It is now two weeks since our letter was sent to Freehold Investment Ltd at the address given in their notices to us.  It was also copied to The Company Secretary at the registered office address in Solihull.  No response, or even an acknowledgement was received.  The sole director of Freehold Investment Ltd. is Christopher Avery.

One leaseholder has kindly sought some legal advice for us through a contact he has.  You will see from what I have pasted below that we can take until 26 Dec having expressed interest without incurring any costs on behalf of the freehold owner U and I (see www.uandiplc.com). We remain convinced that U and I will want to be seen to act in a socially responsible manner.  In the absence of a timely reply from their agent we think we should contact U and I direct.

We need to have a comprehensive list of the owners of the apartments, this can be obtained direct from Land Registry, but there is a cost for this data.  It would be more cost effective to tabulate what we know already and then identify which apartments we do not have information about ownership.  There were people at our meeting from all floors of Hebble Wharf.  Is this a task we can divide up between us – list the apartments on each floor where we do not know who is the owner and people call  on their neighbours to ask if they are owners or renters and if renters who is the owner?

If we do this we may only be left with a very small number that we have to use the paid for land registry route.  

Update  provided by Pam Hodgkins