The Pryors | Useful Resources | Memorandum, Articles and Lease

Memorandum, Articles and Lease

Memorandum and Articles of The Pryors Ltd
The Articles are The Pryors Limited’s internal constitution. A copy is available here to view or download.
Memorandum and Articles - 1983.pdf [0.00MB]

The Lease
An example of a typical Pryors lease is available here to view or download. Not all leases are the same and lessees should check their own lease. Most lessees have an original lease and a further deed amending parts of the original lease. The example of the lease on this site is an artificial document that shows how the original lease would typically look if subsequent amendments had been incorporated into it.

The lease is the legal contract between the flat lessee and The Pryors Ltd which owns the freehold of the land, the blocks and of the flats. This contract gives the lessee, in accordance with its terms, the right to use the flat, and sell that right to others, until the lease comes to an end. Most leases are for 149 years from 1975. When they expire in 2124 (unless they have been further extended) the flat would become the property of the freeholder. Of course, the freeholder is always in a position to extend the leases of its shareholders/lessees.

Example Lease Consolidated Lease 1976 as Amended 1992.pdf [0.14MB]
Lease Variation Consultation Paper May 2009
In recent years the company has considered lease variation. The proposals in the attached consultation paper were not carried out because there was insufficient support to embark on a consensual revision.
Lease Variation Note May 2009.pdf [0.00MB]