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ARTICLE · 02 SEPTEMBER 2004

Commercial Commonhold Schemes

Pinsent Masons
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The Government has announced that Commonhold schemes can be set up from 27 September 2004. Developers will now be thinking about whether a Commonhold scheme will be suitable for their proposed developments. Commonhold schemes will be far simpler to set up than conventional methods of long leasehold or freehold sales of part.

United KingdomFinance and Banking
Ian Hyde
Ian Hyde
Susan Samuel
Susan Samuel

Originally published August 2004

The Government has announced that Commonhold schemes can be set up from 27 September 2004.

Developers will now be thinking about whether a Commonhold scheme will be suitable for their proposed developments.

Commonhold schemes will be far simpler to set up than conventional methods of long leasehold or freehold sales of part. Like the Sydney waterfront office/retail/restaurant development pictured above, Commonhold is flexible, not only in the residential context, but also in mixed - use developments, retail parks and industrial estates.

Will a Commonhold development be worthwhile investing my time and money in?

Commonhold is a new way for developers to create a scheme involving the joint ownership of property. It will take time for others in the property industry to adjust to the new way of owning and developing property. However, the structure and documents of Commonhold schemes will soon become familiar within the marketplace.

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