There has been recent national coverage about changes to leaseholder rights, including ground rent reform. This has prompted some understandable questions about whether existing ground rents are now affected.
At present, the changes being reported are not retrospective. They apply mainly to:
- newly granted long residential leases, and
- certain future statutory lease extensions, where ground rent is reduced as part of that process.
For developments like Centenary Mill, where ground rents are already set out in existing leases (including leases with ground rent above £250), there is no automatic change under current law, and no fixed timetable for that to happen.
This does not mean the issue has gone away. It means expectations need to be aligned with what the legislation currently does, rather than with what may be discussed or proposed.
If there are changes that materially affect existing leaseholders, the Centenary Mill Leaseholders Association will clearly flag them.
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