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Yes they can. This is clearly provided for in the Participation Agreement, the contract that participant leaseholders sign, a copy of which was distributed to all leaseholders in the freehold offer pack. The only leaseholders required to pay their contribution on completion are the “Category 1 tenants” with 174 years left on their leases, because their payment is just £100.

 

The deferred payments are a way for Lindmead to secure a return on its investment. Should every leaseholder decide to contribute their share of the price payable on completion, Lindmead may make nothing. That is Lindmead’s risk and does not affect any participant leaseholder. Geoffrey Gay, Lindmead’s representative, does not need to be educated in the concept of business risk because he deals with it every day.