If your landlord is selling the freehold, you have the legal right of first refusal on the purchase of the freehold interest.
The Landlord and Tenant Act 1987 requires landlords interested in selling their property to offer the leaseholders first refusal on the purchase of the freehold interest.
A new landlord is an unknown quantity and failure to purchase your freehold at this stage will mean that you are at the mercy of the unknown landlord’s whims.
For example they may not fulfill basic responsibilities or they might make changes to the management structure of your building.
Exercising your right of first refusal helps you to avoid these uncertainties. For further information, please consult our online guidance article.