Buying Leasehold Land - No Leaseholder

Landlord Discussion Property Investment
1

Hi,
I am trying to buy a land in auction. It is a leasehold land.

Property is leased to the Highway Agency and they are selling it. I can find the name of the Freeholder in the land registry document. It was leased in 1920 for 980 years. But, no one knows where the freeholder is.

My intention is to buy the land and build a semi commercial building.

Is it safe to buy a land which has over 800 years of lease without knowing where the freeholder is? Will it stop me building a semi commercial building in the land?

Thanks,

2

my sister is a conveyancer . I have in the back of my mind that it does not matter if you cannot find the freeholder .They may be dead .Best ask a land solicitor.

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3

The lease was signed for the Highway Agency more than 100 years ago. So, they may be dead.
But, will there be any legal restriction for me to build a semi commercial property in the land?
Is there any way I can buy the Freehold or make it Freehold after I buy it?
Many thanks

4

there is a way yes . You need to check with a lawyer . insurance can be taken out in these cases if freeholder “turns up”

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5

Thanks @Colin3,
I think having insurance is a good idea. Just in case Freeholder appears in the future, I will not waste the money I am investing to build the property.
Thanks

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