The business of ground rents is a very specialised area and is highly regulated by statute.
Ground rents give a long term flow of income and are becoming an increasingly popular way to have an interest in the property market.
The long term nature and high level of security afforded by ground rents makes them an attractive investment for investors looking across a long term investment horizon. We have expert lawyers who can advise you in relation to the sale and purchase of ground rent portfolios.
We can guide you through the pitfalls of the Landlord and Tenant Act 1987 which imposes criminal liability for breach.
We act for residential developers who look to dispose of their freehold reversion interest in development sites after they have completed the sales of the residential units. We also act for ground rent investors looking to purchases these investments.
We can assist in relation to all aspects of ground rents including:
- Dealing with the sale or purchase of portfolios of ground rents
- Advising whether the proposed transaction will trigger the tenants’ rights of first refusal pursuant to the landlord and tenant act 1987
- Identifying legitimate ways of structuring the transaction so as to take the benefit of one of the exemptions from the right of first refusal
- Drafting and serving statutory rights of first refusal notices
- Dealing with tenants who are in breach of the lease terms including non-payment of ground rent and breach of tenant’s covenants
Examples of our recent work include the following:
- Acting for a developer client in connection with the sale of a ground rent portfolio of more than 1,000 residential units to a ground rent investor for a consideration in excess of £5 million
- Acting for a ground rent investor in connection with the management of their ground rent portfolio, including the enforcement of the collection of ground rents and breaches of tenants covenants. Also dealing with the sale of the freehold interest to individual property owners and groups of property owners
- Acting for a developer in the sale of the ground rents relating to a residential apartment block but ensuring that the ground floor retail property was retained for the benefit of the developer
How We Can Help
A member of our specialist team will be happy to help.
To discuss Ground Rents issues, please either use the contact form on the right, email us at firstname.lastname@example.org or call us today on +44(0)161 941 4000 to speak to a member of our team.