Commonhold
Commonhold is a system for the ownership and management of flats or other units in interdependent developments. Each commonhold unit is held within the estate as a freehold unit. The body which owns the common parts is the commonhold association. Post development, only the owners of units can be members of the Commonhold Association.
Our experience has shown us that Commonhold is ideal for large, multi-tenure and mixed use development by RSLs. There are many advantages over other legal estate management structures. We can provide you with the type of expert advice you need to consider whether commonhold is appropriate and beneficial for your development. We can advise you as to whether a scheme set up on a commonhold basis would be preferable to a scheme set up on a more traditional leasehold basis and how to create shared ownership trusts to replicate the shared ownership lease structure within a commonhold.
Our commonhold team is at the forefront of the evolving law on commonhold and we have written and spoken widely on the subject as well as advising on a large new mixed use development being carried out on a commonhold basis on the Oakgrove Estate near Milton Keynes
Key contact: Peter Ward