converting leasehold to freehold

[mousymouse]

we are renting a flat in a large private development. currently there are discussion to convert the leasehold into a freehold. if I understood correctly, if a certain percentage of owners agree it will be converted, costing about 80,000 pounds per unit.
would that have implications on our tenancy? (I guess yes, if our landlord has to sell due to the hefty price tag)
would that mean that restrictions on the lease will be lifted (atm loft/garage conversions not allowed)?

Didn't want this to go unanswered.

If the freehold is purchased, it means the freeholders will have the lease redrafted but it can say whatever they like, so the restrictions you describe may or not be lifted. However, even if it's in London, £80k for a share of the freehold sounds nutty. I know it's not your flat but tell your landlord there is a body you can complain to about getting the price of the freehold set at a reasonable price. The current freeholders aren't allowed to ask an unfair price these days, because of the regulations.

80k wouldnt be unreasonable if you were on a very low lease, say 40 years left or so, and if you had a high value property.

as to restrictions on the lease, the head lease might be changed to change ground rent, unusual clauses etc but i very, very much doubt it would impact on your lease.

note also your landlord doesnt necessarily have to take part in joining the freehold purchase at this point - he can remain as leaseholder as he is now, the lease merely transfers over to the new owners of the overall freeholder, which will be a company formed and owned by flat owners. in which case their would be no change