Without knowing any of the details, £7500 for the whole block (£1250 per flat) is probably worth doing to have control of the block. This assumes there are no "hidden" risks or issues.
If the existing leases are short (eg: less than 60-70 years), an extension to the existing leases made possible by acquiring the freehold may be reflected in an increased value of the flats.
These are slighty emotive or difficult to quantify issues. Strictly, the value of a freehold is related to the income it produces - the discounted future value of the cash flows from the ground rents.
A bit simplistically - how much would you pay today to avoid paying ground rent in the future. It is the long term interest rate and risk that is important - usually assumed aroun 4-5%.
So paying £1250 to save (say) £50 ground rent would make financial sense. But IMHO the emotive, control and risk issues should dominate the decision - £50 pa is trivial by comparison.
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