The freehold to a block of flats considered the worst example of leasehold abuse in Britain was purchased yesterday by an anonymous buyer for £180,000.
Flat-owners in the 1960s Blythe Court development near Birmingham are forced to pay up to £8,000 ground rent to the freeholder each year, doubling every decade under some leases.
The contracts, described by residents as immoral, mean that one flat-owner will have to pay the landlord £64,000 a year in 30 years’ time. The onerous terms make the properties effectively worthless, leaving the leasehold owners tens of thousands of pounds out of pocket.
