Anyone who is a residential Lessee (i.e. owns a lease on a flat) may apply for a share in New Crane Wharf Freehold Limited (NCWFL) which owns the freehold for the development.

New Crane Wharf from beach -

Shareholders are entitled to have their lease extended and their ground rents reduced.

As a shareholder, you are also entitled to attend and vote at General Meetings of the Company, thereby giving you a voice in how New Crane Wharf is managed.

Owning a share, and its associated lease extension and ground rent reduction, may add to the value of your flat if you were to sell it. The share price is subject to periodic review.

If you sell your flat, the share can only be sold to anyone to whom the flat lease is subsequently assigned.

Shareholders are entitled to reductions in their ground rents - under leases for both flat and garage space.

Shareholders can have their leases extended to the remainder of 999 years from the start of the original lease.

The legal costs and some of those of NCWFL for such lease extensions must be met by the shareholder lessee.

If you’re interested in becoming a shareholder, please contact Gavin Owen at KFH, who can advise on the process, the current share price and the costs involved.

Alternatively, speak to one of the Directors. 

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