Freehold Company Hikes Ground Rents For Leaseholders Facing Huge Fire Safety Bills

 A freehold company has hiked the ground rents of leaseholders facing crippling bills to repair fire safety defects in their building. E&J Estates has enacted its right to a 10-year ground rent review at the Hemisphere Building in Edgbaston, Birmingham, with most rents rising from around £300 to more than £400 a year. The 344-home development is facing the prospect of a £13.8m remediation project after a fire engineer’s report identified combustible EPS insulation and build defects in the external facade. E&J said the hike was necessary because of the demands of the pension fund it invests the money in. Read more on Inside Housing.

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