Landmark Investment Group targets £30m of ground rents

Michael Hunt

Bolton-based Landmark Investments Group has said it aims to purchase £30m worth of ground rents nationwide.

As Landmark approaches its ten-year anniversary, the group has confirmed the financial support of its banks and syndicated investors, which will enable its business targets to be met.

Owner and director Mark Hawthorn predicts £450m, based on 120,000 units with 90% being leasehold at £250 a year average each, of new pipeline stock will become available this year and aims to secure at least 10,000 units.

Although it will be concentrating on the North West market, Landmark Investments Group also continues to expand in London and the south as well as targeting larger blocks in all major cities.

Mark Hawthorn, of Landmark Investments Group, said: "With the Government's Kickstart Initiative and funding slowly being released back to the property industry, this year poses a fantastic opportunity for us to pick up a lot of the available stock and further enhance our profile. We can benefit developers and housebuilders in many ways by adding value to their assets that, in some cases, they never knew existed.

"Even recently, lack of internal resources and management expertise have left developers with no choice but to forgo the additional value and profit they can gain. We're excited about assisting them out of a stagnant market and demonstrating the true value of ground rents on their developments."

Ground rent is a regular payment required under a lease from the owner of leasehold property, which is payable to the freeholder. Ground rent is created when a freehold piece of land or when a house, apartment and commercial unit, is sold on a long lease.

Within Landmark's ground rent guide it said a ground rent charge can range from £100-£500 a year as an average.

Your Comments

Subscribe to our newsletter