A Collective Enfranchisement is a way of individual apartment owners (leaseholders) jointly buying and owning the freehold of their building. At least 50% of the apartment owners will need to participate in the purchase for the legal right to be exercised.
Once your group has been assembled a company, owned by the participating leaseholders, will usually be formed and nominated as the purchaser. A specialist leasehold surveyor should be instructed to advise on the purchase price.
Once these steps have been taken your solicitor will serve notice on the freeholder to commence the purchase process under the Leasehold Reform Housing and Urban Development Act 1993.