Updated October 2026
In short: Buying a whole block of flats gives you control of the building and economies of scale in management, and it can trade at a discount to the sum of individual flat values. The key risks are building safety (especially for taller blocks), the condition of shared parts, finance (commercial lending rather than standard buy-to-let) and the change in the rental rules since May 2026.
| Type of block | What you get | Key considerations |
|---|---|---|
| Freehold block, single title | Whole building and all flats, one title | Commercial finance; value uplift from splitting titles and selling or refinancing individually |
| Block with some long leases sold | Freehold plus some unsold flats | Leaseholder rights, including right of first refusal on a freehold sale |
| Purpose-built build-to-rent block | Modern block with amenities | Higher price, institutional standards, professional management |
| Conversion (e.g. former office or house) | Smaller blocks, often 4–20 units | Check permissions, building regulations sign-off and space standards |
Building safety
For buildings of 11 metres or more, check the external wall system and fire safety documentation. Higher-risk buildings (18 metres or seven storeys and over, with at least two homes) must be registered with the Building Safety Regulator and have an accountable person. Remediation liabilities and leaseholder protections under the Building Safety Act 2022 affect value and lending.
Due diligence checklist
- Title: one freehold title or several; any leases granted
- Rent roll, tenancies and arrears; how tenancies have converted under the 2026 rules
- Building survey of the roof, structure, services and communal areas
- Fire risk assessment, external wall survey (EWS1 where relevant) and building safety status
- HMO, selective or additional licensing requirements
- Service charges and reserve funds, if leases exist
- Planning and building regulations sign-off for conversions
How Fraser Bond helps investors
| 1 | Brief Location, budget, yield targets and management approach. |
| 2 | Source On- and off-market blocks from private owners, developers and portfolio sales. |
| 3 | Appraise Gross and net yield, break-up value, capex and compliance costs. |
| 4 | Acquire and manage Negotiation, finance introductions, then lettings and block management. |
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