The BUTA Estate
A Very Brief History
In 1976, the Church Commissioners of England owned a substantial number of buildings in the Belsize Park area, collectively referred to as “The Hampstead Estate.” These included four purpose-built blocks and around 50 converted houses, comprising more than 300 individual demises. At the time, all flats were rented to sitting residents as Protected Tenants under long-standing tenancy rights.
Faced with the Commissioners’ intention to sell the entire estate to a commercial property company, tenants grew increasingly concerned about their futures. In response, a collective of residents took the bold and unprecedented decision to purchase the freeholds themselves, pooling resources and energy to secure the future of their homes.
On 29 September 1976, this community-led effort succeeded. With around 80% of tenants contributing capital, they were able to purchase the estate outright — a remarkable feat of collective action and civic determination.
To structure this initiative:
- Nugentways Limited was incorporated on 21 April 1976 to hold legal title to the freeholds.
- Belsize United Tenants’ Association Limited (BUTA) was incorporated on 12 May 1976 to manage the estate and became the sole shareholder of Nugentways.
Crucially, it was agreed that every flat, whether or not the resident had contributed financially to the original purchase, would be allocated one share in BUTA, securing a principle of fairness and unity from the outset.
The leases, originally granted for 99 years, were designed with transparency in mind. Costs traditionally charged to individual buildings were instead shared across the Estate, calculated on a per square foot basis. In 1995, following the Leasehold Reform Act of 1994, leaseholders were offered 999-year leases at no cost, ensuring long-term security while continuing to uphold the ethos of the 1976 founders.
By 2018, all leaseholders on the estate held 999-year leases, enshrining this community-led model for generations to come.
Governance and Stewardship
Today, BUTA is a not-for-profit, leaseholder-owned estate management company, committed to the principles on which it was founded: community governance, mutual responsibility, and stewardship of a unique residential environment in the heart of NW3.
The Board of Directors is composed entirely of unpaid volunteers, all of whom are leaseholders or protected tenants. They give their time freely — often extensively — while balancing full professional careers and personal responsibilities.
Their work includes:
- Strategic oversight of major works and repairs
- Managing budgets and service charges
- Regulatory compliance and shareholder communication
- Supporting residents and resolving complex property issues
This structure not only helps to keep costs low by avoiding management fees but also ensures that decisions are taken by those with a direct, personal stake in the estate’s long-term wellbeing.
We recognise that governance is a shared responsibility. As custodians of this estate since 1976, the Board remains committed to transparency, constructive dialogue, and the continued improvement of how we communicate and engage with all shareholders.
Getting Involved
We are always interested to hear from leaseholders who would like to become more involved in the stewardship of the Estate.
Applications to join the BUTA Board are welcome. By offering just a few hours a month, you could play a valuable role in helping to shape the future of the Estate and build a stronger, more connected BUTA community.
BUTA
A unique not-for-profit leaseholder-owned estate management company in the heart of NW3.
Managing and investing in our estate. Capitalising on a remarkable portfolio. Working on behalf of all our owner-shareholders.
Custodians since 1976