The interest produced an annual income of approximately £200,000 with numerous, near-time lease extension premiums for the buyer.
The private seller said: “SHW have acted for us for many years, dealing long term on lease extension negotiations. Richard Bull’s knowledge is second to none in our opinion.
“My family have been investing in ground rents for over half a century. It was therefore a difficult decision to sell, but Richard introduced us to Harry Speed in the agency team at SHW and we quickly felt in very safe hands. Harry provided exceptional advice throughout and worked tirelessly to get this complicated company sale over the line in a matter of months. We are truly delighted with the outcome.”
Harry Speed commented: “This is a significant ground rent investment sale on behalf of a client who we have worked on behalf of for decades, and I am delighted to have played a part in it.
It is fantastic to see that demand for ground rent opportunities remains, even with recent adverse sentiment. Having tested the opportunity with those active in this market, we secured several competitive offers. I was delighted with our client’s endorsement of SHW, me and Richard. I was also very pleased with the sale’s outcome, and we will continue to advise the new owner on this portfolio.”
