England ace Raheem Sterling is building £7million mansion after buying 3.5 acre plot from King Charles
The Chelsea winger will also need to pay the king money each year for rent.
According to a story, England player Raheem Sterling paid £2.3 million for a piece of land owned by King Charles.
The 28-year-old bought the 3.5-acre Crown Estate-owned land in Ascot, Berkshire. The player was a standout for the Three Lions throughout their tragic Euro 2020 campaign.
The Crown Estate will essentially act as Sterling’s landlord, and he will be required to pay an annual rent.
Former player for both Manchester City and Liverpool, Sterling, will construct a brand-new five-bedroom mansion, according to The MailOnline.
According to aerial photos, Sterling’s new house will have a pool or other water feature.
The Jamaican-born England star’s house is said to be worth £7 million.
It will also feature a large basement with potential features including a two-lane bowling alley and an underground swimming pool.
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According to land register data, Sterling purchased the parcel in May 2021.
Before closing, the Chelsea winger reportedly worked out a £195,000 reduction from the £2.495 million asking price.
The remaining 141 years of Sterling’s lease on the site are left.
The ground rent that Sterling is required to pay is not publicly known.
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“Some people might think it unusual for someone as wealthy as Sterling to buy a property on leasehold where they never actually own the freehold of the land,” an expert did, however, tell MailOnline.
Although leasehold ownership is more prevalent for apartments, leases can be applied to any kind of property.
“The majority of properties in some sizable parts of London are leasehold.
As the lessee, Sterling will continue to have a number of important privileges.
The land will never be entirely owned by him.
The legislation stipulates that whoever owns it at that point will be entitled to renew it, but he won’t be around when the lease expires in 141 years.
They’ll have the money to purchase a new lease. It would be debatable how much that would be.
“It’s possible that the terms of his current lease include information about how much a renewal will cost, adjusted for inflation.”