The leasehold pledge explained

What does the the government announcement of an industry pledge on leasehold deals mean in practice?

As part of its commitment to reform the leasehold system, the government has announced an industry pledge to "crack down on toxic leasehold deals". Over 40 developers have already signed up to the initiative, along with a number of managing agents.

James Duncan, head of alternative real estate investments at law firm Winckworth Sherwood, discusses what this means for the industry - particularly in relation to ground rents - and what we can expect to see next as part of the evolving leasehold picture.