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Ground Rents Income Fund PLC (GRIO)

London

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29.00 -0.30 -1.02%

08/08 - Closed. Currency in GBP

Type: Equity

Market: United Kingdom

ISIN: GB00B715WG26

SEDOL: B8K0LM4

Volume: 32,521
Bid/Ask: 27.00 / 31.00
Day's Range: 28.00 - 28.03

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Ground Rents Income Fund PLC Company Profile

Get an in-depth profile of Ground Rents Income Fund PLC, including a general overview of the company's business and key management, as well as employee data and location and contact information.

IndustryResidential & Commercial REITs

SectorReal Estate

Employees

Equity Type

ORD

Ground Rents Income Fund plc is a closed-ended real estate investment trust, listed on The International Stock Exchange and traded on the SETSqx platform of the London Stock Exchange. Schroder Real Estate Investment Management Limited (the 'Manager') was appointed as the Company's Alternative Investment Fund Manager in May 2019 to support the Company's Board with the headwinds related to building safety and leasehold reform. In 2023, the Board and Manager carried out an extensive shareholder consultation on proposals to change the Continuation Vote mechanism included in the Articles dating from 2012, as well as proposed changes to the Investment Policy. These proposals received strong support from shareholders and resulted in a new Continuation Resolution and Investment Policy. The new Investment Policy adopts a strategy of realising the Company's assets in a controlled, orderly and timely manner for shareholders, whilst continuing to deliver best-in-class residential asset management including fairness, transparency, and affordability for leaseholders. In November 2023 the previous Government published a consultation on restricting existing residential ground rents payable, without compensation to freeholders (the 'Consultation'). This represented a significant shift in the Government's approach to leasehold reform and led the Company's independent valuer, Savills, in conjunction with other valuers and the Royal Institution of Chartered Surveyors, to adopt a Material Valuation Uncertainty Clause ('MUC') across the entire residential ground rent market.

Contact Information

Address 1 London Wall Place
London, EC2Y 5AU
United Kingdom

Phone 44 20 7658 6000

Fax -

Web www.groundrentsincomefund.com

Top Executives

Name	Age	Since	Title
William Edward John Holland	-	2019	Independent Non-Executive Director
Paul Anthony Craig	52	2012	Independent Non-Executive Director
Barry Gordon Gilbertson	72	2021	Independent Non-Executive Chairman
Katherine Innes Ker	60	2021	Independent Non-Executive Director
Katherine Christina Mary Innes Ker	65	2021	Independent Non-Executive Director

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