The Council owns the freehold interest in the Mockbeggar Estate and the individual  residential properties were originally occupied on ground leases for a term of 99 years from 1968 at a peppercorn rental.  Under the provisions of the Leasehold Reform Act 1967, lessees may have the right to extend the lease or acquire the freehold and as a consequence a large number of occupiers over the years have acquired the freehold interest in their properties from the Council.

The Council has received a request from the owners of the leasehold interest of 51 Mockbeggar Drive to purchase the freehold interest which is shown edged on the attached plan.  Terms have provisionally been agreed for the sale in the sum of £4,500 plus a contribution of £1,100 towards the Council’s legal and surveyor’s fees.

The valuation is in accordance with the format outlined by the Leasehold Reform Act 1967 and is in keeping with similar transactions.

Resolved –

That the  freehold interest of 51 Mockbeggar Drive, Wallasey be declared surplus to the Council’s requirements and the Assistant Chief Executive be authorised to agree a sale of the freehold interest to the existing lessees, Mr and Mrs Kenny for £4,500 plus a contribution towards the Council’s fees.

As the freehold is only really of interest to the current lessees and under the Leasehold Reform Act 1967 the lessees have the right to extend the lease or acquire the freehold interest, no other options have been considered.