We are a property company with a set of a building in central London. Granted lease was 30 years from November and granted lease was 30 years from November 2019 and currently we have 29 years left.
We are sitting about £20,000 for the additional premium payment to the head Head landlord to extend the current lease to 70 years.
we have 9 nearly refurbished self-contained from one bedroom to 2 bedrooms flats in the building. Currently renting out corporate clients private clients as well as short term holiday accommodation businesses.
We will need to increase the lease to 70 years for further refinancing the asset to develop our portfolios.