Headlease Ground Rent Investment

Conveniently situated between Goldhurst Terrace and Canfield Gardens in a sought-after area close to a good range of shops and travelling facilities, including Finchley Road Underground Station (Jubilee and Metropolitan Lines) and South Hampstead Overground Station. The property comprises a leasehold ground rent investment amounting to £4,120 per annum. The net rent is £2,611 per annum after the ground rent to the head lessee is paid. The property is held on a head lease for a term of 125 years from 25th December 1981 (having approximately 80 years unexpired) at a current ground rent of £1,509 per annum paid to Waitrose, who hold a superior lease. The residents management company is responsible for the repair and maintenance of the building. There are currently 31 flats with approximately 80 years remaining on the leases. A significant opportunity exists to unlock additional value through rooftop development, with the potential to create further accommodation, subject to obtaining the necessary planning permission and all required statutory consents. There is also a Vodafone telecoms lease currently holding over at £16,000 rent per annum, with 50% of this rent due to the head lessee subject to demand (the head lessee has not demanded it for the last circa 2 years). The total production is £10,611 per annum.