When should you contact Gray’s Inn Estates?
- If you are planning to market any apartment or leasehold housing scheme in the next 6 months.
- At least 12 weeks before your financial year end or half year.
- Ideally at least 6 weeks before you expect to exchange 50% of the contracts to sell apartments in any block.
- Any time you are interested in obtaining a quotation for your existing portfolio.
The earlier you contact us, the more profitable your ground rent sale can be. Firstly, on new developments, we can advise on the lease format which optimises the attractiveness to your purchasers whilst achieving the highest value from us. Nothing we recommend impedes your product in anyway.
Taking into consideration your target market, we can add value to your product. There is an extremely strong market for leasehold houses in some areas of the country and we can help you increase profits in this area. If you need funds in time for your own financial targets, we can advise you on how best to ensure you hit these targets every time.
There are also useful ways of avoiding protracted legislation under section 5 of the Landlord & Tenant Act 1987 concerning legal notices being served on the leaseholders. Gray’s Inn Estates can provide timetables for disposing of your freeholds to minimise the impact of this legislation.
If you are planning to market any apartment or leasehold housing scheme in the next 6 months; if your financial year or half-year end is 12 weeks away or more; at least 6 weeks before you expect to exchange 50% of the contracts to sell apartments in any of your blocks; or any time you are interested in obtaining a quotation for your existing portfolio.
Basically, the earlier you contact us, the more profitable your ground rent sale can be.
How do Gray’s Inn Estates help their clients?
- We are experienced ground rent investors who can be relied upon to complete a deal fast.
- We understand the house building industry and empathise with the client’s needs at all times.
- Our solicitors also act for major housebuilders so they understand our client’s needs.
- Our solicitors act in a commercial manner always acting with the deal in mind.
- We guide clients on the best lease format and contents and strategy to enhance the value of the portfolio in terms of disposing their freeholds.
- We prepare and serve legal notices on the leaseholders on behalf of the seller saving their legal costs.
A busy housebuilder can rely on Gray’s Inn Estates to complete any deal within very tight deadlines. Our client base includes most of the large publicly quoted builders and we always give total consideration to our client’s financial year targets. We can give case study examples of completing very large deals within 14 days of instructing solicitors in the past.
The speed of service is partly due to the solicitors that Gray’s Inn Estates use for conveyancing. Our solicitors also act for many housebuilders on both land deals and plot sales. Their detailed understanding of the housebuilding industry means that they can work much faster with the seller’s solicitors.
Selling freeholds is subject to some detailed and evolving legislation. We at Gray’s Inn Estates advise any seller on the best way to proceed with a sale. We provide much of the legal documentation such as section 5 and 18 Notices in accordance with the Landlord & Tenant Act 1987, which may be required at the pre-sale stage at no cost to the housebuilder. We can also advise when it is suitable to go down the single asset company disposal route for a sale.
We acquire ground rents using a special fast track conveyancing method. Generally, deals do go directly to completion without the need of a contract. We have arranged a special method of conveyancing where the finance that is required is not addressed until after completion. That means that our solicitors do not need to report to lenders’ solicitors, or solicitors of an in-house legal department, or any other third parties during the conveyancing process. This enables our solicitors to focus specifically on the deal and complete very quickly. Indeed it is this very fact that not only makes Gray’s Inn Estates an attractive purchaser, but also enables us to complete other deals that have been aborted in the past.
The constraints and cumbersome processes of an institutional purchaser have become extremely elaborate and legal costs can become uneconomical for the seller. Being a privately owned company with an entrepreneurial attitude, we have taken over many deals which have failed through excessive or unimaginative conveyancing practices.