Convert leasehold title to freehold

Hi there, just wondering if anyone has any knowledge of reversionary leases and converting the folio title to freehold.

The property in question is a reversionary lease granted by the Chief Clerk of the Circuit Court at annual rent of €570.
I understand there are 2 routes to go:

1. Arbitration - this would be very expensive considering the high annual rent, probably in the region of €30,000 on a house that isn't worth more than 100k most likely.
2. Consent - much cheaper option but not sure it applies in this situation.

Does anyone know if I could apply to the court for either (a) consent or
(b) for a reduction in the annual rent in order to make the arbitration option affordable.

Any help would be greatly appreciated.