Buying the freehold - worth it or not?

[notanothergiftcard]

Our flat has 165 years left on the lease and we pay a lot of ground rent. Our leaseholder is retiring and is offering us the purchase of the freehold.

I don't know what it will cost yet so obviously that is a factor but in principle is it worth doing this?

Is there a time limit on buying the freehold? Could you market it as is and then potentially take up the freehold purchase if you can’t find a buyer?

The term remaining on your lease aren’t onerous and the peppercorn rent wouldn’t seem to be a barrier to mortgage companies.

Have you asked a couple of local estate agents what they think? They may have sold some in your block or nearby recently and could advise you whether it’s been an issue for buyers or not.

It wouldn't be worth the 25k we'd have to pay for the freehold, only to sell it immediately. Most flats round here are leasehold, and none seem to have an issue selling.