New Build Ground Rent - Is this reasonable?

lfc321

By my maths if it doubles every 21 years that averages out to about a 4.76% increase per year. Definitely higher than current inflation, but not completely out of the realms of reasonableness as a long-term average.

The average inflation rate for the 21 years from 1981-2001 was 4.68%

By the time you're paying £8000 (in 126 years time) you'll be earning millions a year.

basilsauce

Just for comparison - my ground rent is £60 per year, and service charge is £688.08 per year. It is a one bedroom flat, built in 1984, in Ickenham, edge of west London. Have owned it for just over 3 years - ground rent has not changed since I bought it, and service charge has gone up by about £20.
So, to me, your ground rent seems excessive - but there again I don't know the specifics of your flat, and am blonde and female, and have no other experience of flat buying/ground rent/service charges etc, so have absolutely no idea whether or not there is anything dodgy/excessive about your situation, just thought it might be a little useful to give you something to compare your situation to - whatever you decide - I hope it works out!