Lease extension payment?

[SOT3]

We own a ground floor maisonette - there is one property above ours.

Our property is 'Share of Freehold' - and the property above is also 'Share of Freehold'.

Both our properties also have an under lease.

Our lease is 999 years - but the property above only has a 70 year lease.

The person who owns the property above wants to extend their lease (which would increase the value of their property by approximately £150,000).

Is it correct that we (as we have a 'Share of Freehold') should receive a payment from the owner of the property above when the lease is extended?

Get advice from a solicitor, but I'd imagine you would get 50% of the cost to extend.

I had to pay my freeholder £6k to extend a 72 year lease. This was about 15 years ago, it would be much more now.

But as half a freeholder then I'd say you'd get half of that.

Both of you should get independent valuations.
I don't think you will be entitled to 50% of the increased value as you both have share of FH. As far as I understand (could be wrong!), whatever premium has to be paid is shared between all owners of said FH.

Who owns the lease? As that's who gets the money.

The freeholder gets the money. The leaseholder pays the money.

Thank you all very much for replying.