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More on the Freehold issue 03 February 2012 I have just had a telephone call from the freehold parent company, Consensus. They say the recent news articles on Victor Tchenguiz having to sell-off his portfolio of freeholds are misleading. The apparent truth is that Consensus are selling off the actual company, Citistead. Citistead was set up by Consensus to look after its freehold interests, and it is this company which is being sold off in entirety. This apparently lets them off the legal hook (similar to when Wimpey sold off the company to Citistead). The legal loop hole appears to be when the freeholder sells off a company containing all freeholds for the properties on their books, rather than just selling off, for example, Rockingham Court freehold. We will of course, need to monitor this however, and keep a watching brief to ensure that this happens in the way it has been described to me on the phone. Requests have been made to the Board to monitor this and and to make enquiries on our behalf. We will of course keep you posted on all developments. | ![]() ![]() ![]() |
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