The acquisition of ground rent portfolios has become an attractive feature of property investment both in terms of the secure income flow that the portfolios generate and also the ancillary benefits which may arise from such acquisitions. Potential ground rent transactions are now being structured to also include acquisitions of leases of hotel rooms, student accommodation and care homes in addition to traditional blocks of flats.
Our dedicated ground rents team, which forms part of our Residential Real Estate sub-practice, can advise you on all aspects of the acquisition and disposal of ground rent portfolios including the carrying out of the requisite due diligence and the consideration and effect of related issues such as management of the building, service charge collection, dealing with employees, formalising service contracts and other related matters.
We recognise that the efficient asset management of such portfolios is essential to achieving the investment return being sought by our clients. Our real estate Dispute Resolution team specialises in ground rent and service charge recoveries and other complex asset management issues concerning long leasehold properties such as the statutory requirements to be observed concerning consultation with lessees in respect of major works projects, service charge strategies, service charge recovery in the First-Tier Tribunal (Property Chamber) and the County Court, enforcement action in respect of breaches of the lease, forfeiture claims, lease extensions, collective enfranchisement and right to manage cases.
Representative Ground Rents Work
Examples of our ground rents work include:
- Advised a specialist Jersey ground rent investment fund in relation to its purchase of various ground rent portfolios.
- Advised several off-shore investors and trusts in relation to the purchase of various residential blocks of flats including considerable reversionary values in lease extensions, deeds of variation and asset management.
- Advised on the management of an exclusive apartment complex in The Bishops Avenue, London, NW3.