Converting leasehold title to freehold (reversionary lease)

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.