Ground rent

EQS-News: The Grounds Real Estate Development AG quadruples Group sales and significantly increases half-year earnings

Retrieved on: 
Friday, September 23, 2022

Group EBIT rises by around 81% to EUR 2.9 million (H1 2021: EUR 1.6 million); consolidated profit after tax of EUR 1.5 million (H1 2021: EUR 0.0 million)

Key Points: 
  • Group EBIT rises by around 81% to EUR 2.9 million (H1 2021: EUR 1.6 million); consolidated profit after tax of EUR 1.5 million (H1 2021: EUR 0.0 million)
    Berlin, 23.09.2022 The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) developed successfully in the first half of 2022 and significantly increased its earnings.
  • This was based on growth in Group sales, which at EUR 21.4 million were more than four times higher than in the comparison period of the previous year (EUR 4.9 million).
  • Consolidated EBIT in the reporting period increased by EUR 1.3 million, or just over 81%, to EUR 2.9 million.
  • After taxes, consolidated profit for the first half of 2022 was EUR 1.5 million (H1 2021: EUR 0.0 million).

DGAP-News: The Grounds Real Estate Development AG: The Grounds acquires a 5,560 m2 plot in Königs Wusterhausen

Retrieved on: 
Wednesday, July 13, 2022

The Grounds Real Estate Development AG: The Grounds acquires a 5,560 m2 plot in Knigs Wusterhausen

Key Points: 
  • The Grounds Real Estate Development AG: The Grounds acquires a 5,560 m2 plot in Knigs Wusterhausen
    The issuer is solely responsible for the content of this announcement.
  • Berlin, 13.07.2022 The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) concluded the contract to purchase a 5,560 m2 plot of land in Knigs Wusterhausen yesterday.
  • Once legal building requirements have been obtained, the company plans to implement a residential construction project here.
  • The population in Knigs Wusterhausen alone grew from 33,747 in 2011 to 38,898 by the end of March 2022, an increase of more than 15%.

DGAP-News: The Grounds Real Estate Development AG significantly expands operative business and resolves a further capital market measure

Retrieved on: 
Wednesday, September 29, 2021

Berlin, 29.09.2021 - In the first half-year of 2021, The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) strongly increased its consolidated sales revenues to EUR 4.9 million (previous year: EUR 0.6 million).

Key Points: 
  • Berlin, 29.09.2021 - In the first half-year of 2021, The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) strongly increased its consolidated sales revenues to EUR 4.9 million (previous year: EUR 0.6 million).
  • It was also possible to increase rental incomes by 26.7% to EUR 695 thousand (previous year: EUR 548 thousand) by further expansion of the real estate portfolio.
  • Consolidated profits before taxes and interest (EBIT) of EUR 1.6 million were 13.3% above the previous year's level.
  • The demand for owner-occupied apartments remains high, and is reflected in the current notarisations and reservations soon after the start of marketing.

Government responds to Committee's Leasehold reform report

Retrieved on: 
Saturday, July 6, 2019

The Government has published its response to the Housing, Communities and Local Government Committee’s report into leasehold reform.

Key Points: 
  • Chair of the HCLG Committee, Clive Betts commented:
    Our report into Leasehold Reform set out the serious imbalance against leaseholders in the current system.
  • We are pleased that the Government has recognised this and has accepted many of our recommendations, including to cap future ground rents at zero financial value.
  • However, much more needs to be done for those leaseholders already subject to onerous terms, such as escalating ground rents and permission fees.
  • We are pleased that the CMA accepted our call for an investigation into the sector, but we believe that the Government need to do more to intervene on behalf of leaseholders who continue to be trapped in leasehold properties they cannot re-mortgage or sell.

Government responds to Committee's Leasehold reform report

Retrieved on: 
Saturday, July 6, 2019

The Government has published its response to the Housing, Communities and Local Government Committee’s report into leasehold reform.

Key Points: 
  • Chair of the HCLG Committee, Clive Betts commented:
    Our report into Leasehold Reform set out the serious imbalance against leaseholders in the current system.
  • We are pleased that the Government has recognised this and has accepted many of our recommendations, including to cap future ground rents at zero financial value.
  • However, much more needs to be done for those leaseholders already subject to onerous terms, such as escalating ground rents and permission fees.
  • We are pleased that the CMA accepted our call for an investigation into the sector, but we believe that the Government need to do more to intervene on behalf of leaseholders who continue to be trapped in leasehold properties they cannot re-mortgage or sell.

Government responds to Committee's Leasehold reform report

Retrieved on: 
Saturday, July 6, 2019

The Government has published its response to the Housing, Communities and Local Government Committee’s report into leasehold reform.

Key Points: 
  • Chair of the HCLG Committee, Clive Betts commented:
    Our report into Leasehold Reform set out the serious imbalance against leaseholders in the current system.
  • We are pleased that the Government has recognised this and has accepted many of our recommendations, including to cap future ground rents at zero financial value.
  • However, much more needs to be done for those leaseholders already subject to onerous terms, such as escalating ground rents and permission fees.
  • We are pleased that the CMA accepted our call for an investigation into the sector, but we believe that the Government need to do more to intervene on behalf of leaseholders who continue to be trapped in leasehold properties they cannot re-mortgage or sell.

Ground Rents (Leasehold Properties)

Retrieved on: 
Wednesday, June 26, 2019

A Bill to regulate ground rents charged on leasehold properties; to make provision for a cap on ground rents; to make property developers liable for the legal costs of leaseholders seeking to vary certain ground rent contracts; and for connected purposes.

Key Points: 

A Bill to regulate ground rents charged on leasehold properties; to make provision for a cap on ground rents; to make property developers liable for the legal costs of leaseholders seeking to vary certain ground rent contracts; and for connected purposes.

Chair comments on Secretary of State's leasehold announcement

Retrieved on: 
Friday, March 29, 2019

Chair of the Housing, Communities and Local Government Committee comments on the Minister's pledge to address leasehold reform

Key Points: 
  • Following the announcement of Rt Hon James Brokenshire MP of an industry pledge to address issues in the leasehold system ( Government announcement here ), Housing Communities and Local Government Committee Chair, Clive Betts MP said:
    It is disappointing that the Government has not yet taken a more vigorous approach to tackling the serious failures in the leasehold system.
  • There is no inherent value to this system, which in the worst cases prevents leaseholders from renewing a mortgage or selling their home.
  • The Government should accept this and ensure that ground rents are capped at an affordable rate through legislation.
  • This will go some way towards alleviating the risks to leaseholders in bringing service charge, or other, challenges to tribunal.

Chair comments on Secretary of State's leasehold announcement

Retrieved on: 
Friday, March 29, 2019

Chair of the Housing, Communities and Local Government Committee comments on the Minister's pledge to address leasehold reform

Key Points: 
  • Following the announcement of Rt Hon James Brokenshire MP of an industry pledge to address issues in the leasehold system ( Government announcement here ), Housing Communities and Local Government Committee Chair, Clive Betts MP said:
    It is disappointing that the Government has not yet taken a more vigorous approach to tackling the serious failures in the leasehold system.
  • There is no inherent value to this system, which in the worst cases prevents leaseholders from renewing a mortgage or selling their home.
  • The Government should accept this and ensure that ground rents are capped at an affordable rate through legislation.
  • This will go some way towards alleviating the risks to leaseholders in bringing service charge, or other, challenges to tribunal.

Chair comments on Secretary of State's leasehold announcement

Retrieved on: 
Friday, March 29, 2019

Chair of the Housing, Communities and Local Government Committee comments on the Minister's pledge to address leasehold reform

Key Points: 
  • Following the announcement of Rt Hon James Brokenshire MP of an industry pledge to address issues in the leasehold system ( Government announcement here ), Housing Communities and Local Government Committee Chair, Clive Betts MP said:
    It is disappointing that the Government has not yet taken a more vigorous approach to tackling the serious failures in the leasehold system.
  • There is no inherent value to this system, which in the worst cases prevents leaseholders from renewing a mortgage or selling their home.
  • The Government should accept this and ensure that ground rents are capped at an affordable rate through legislation.
  • This will go some way towards alleviating the risks to leaseholders in bringing service charge, or other, challenges to tribunal.