Converting to Freehold from Leasehold.

[parkesquay]

I live in a block of 20 flats with a restaurant occupying the ground floor and there is a move afoot to takeover the freehold. I didn't put this into the law section because there are enough references regarding how to go about it/the minimum requirements etc. Reading through these requirements doesn't answer, for me , what seems to be basic information.

What I would like please are some practical answers such as:

1. Is there any point in agreeing to the F/H if the current landlord wants to retain the F/H on the Restaurant?
Other than ground rent from us I would hazard a guess that the landlord gets an income of say �20K pa from the Restaurant.

2. Exactly how does one estimate what might be the overall value of the F/H remaining given that the landlord effectively only has one property. Yes I know that in 100 years or so, assuming that leaseholds aren't extended, his family will own the whole building but I am not sure how relevant this is .

There seem to be so many imponderables.

Any practical suggestion/ideas would be most appreciated.