Flats at London City Island are sold as leasehold properties, not freehold. Like most new-build apartments across London, ownership is structured under long leases typically granted for terms of 250 years (sometimes longer depending on the block).
This means buyers own the right to occupy and use their flat for the duration of the lease but do not own the land or building outright. The freehold is retained by the developer or an investment company, while building management is handled by a professional managing agent.
Owning a leasehold flat in London City Island carries certain rights and responsibilities:
Service Charges & Ground Rent – Leaseholders contribute to the upkeep of communal areas, security, landscaping, insurance, and shared amenities such as gyms and concierge services.
Alterations & Renovations – Most works require formal consent from the freeholder or managing agent (via a Licence to Alter). Structural changes, external modifications, or works impacting communal parts cannot be made without permission.
Compliance & Restrictions – Leases include covenants relating to subletting, pets, use of communal areas, and obligations to pay service charges promptly.
Lease Extension Rights – After owning for at least two years, leaseholders may have statutory rights to extend their lease, although at London City Island the 250-year terms mean this is not an immediate concern.
In multi-storey apartment schemes like London City Island, leasehold ownership is standard. It ensures:
Centralised management of building safety, maintenance, and services
Shared cost contribution across residents for amenities and infrastructure
Legal clarity regarding boundaries, obligations, and rights of occupation
The leasehold model underpins the smooth operation of premium developments with extensive facilities, which would be impractical under individual freehold ownership.
At Fraser Bond, we support clients purchasing at London City Island by:
Reviewing lease terms and advising on service charge liabilities
Explaining restrictions around lettings, resale, or alterations
Benchmarking leasehold costs against comparable East London schemes
Ensuring investors and overseas buyers understand UK leasehold law
For bespoke advice and access to London City Island sales and lettings opportunities, visit FraserBond.com.
