I am interested in a property and approximately 300 acres of associated land in the UK. The has a 1000 year long lease with a peppercorn ground rent and no service charge. I understand that every case is different and you aren't psychic, I have not as yet seen a copy of the lease which will answer this question in relation to my specific case, but I am interested in the general case.
What benefit does selling such a leasehold confer to the freeholder, which sale of the relevant freehold would not?
Does such a lease provide a clue as to the situation in which the leasehold was sold? Possible (but likely incorrect) example: The seller was in shared ownership of the freehold and they were granted a long leasehold to prevent needing to renew the lease, but allow the person rights over the land.
What general disadvantages does owning such a leasehold have in comparison to owning the freehold, other than the possibility for a specific lease to limit the leaseholders rights over the land?