Yianis Group is a London-based property development and investment company, wholly owned by the Cyprus-born British billionaire, John Christodoulou.
Yianis Group owns the London hotels Marriott Canary Wharf and Canary Riverside Plaza Hotel at Canary Wharf. [1]
In Manchester, Yianis Group owns the Hilton Manchester Deansgate. After a seven-year legal battle it initiated against the building's owner, North West Ground Rents Limited, part of the publicly quoted Ground Rents Income Fund, over who should be made to pay £8.9m to fund essential remedial works of the external facade, which Yianis Group subsidiary Blue Manchester Limited eventually won at the High Court in 2019, Yianis Group acquired the freehold for a 'nominal' sum. [2] [3] [4] Prior to summer 2021, Yianis Group only had a 999-year lease on the commercial premises at Beetham Tower; the first 23 of its 47 floors. [1] [5] [6]
Yianis Group also own Park Inn Palace, Southend and Radisson Blu, Liverpool.
Its head office is based at Westferry Circus, London. [7]
The group of companies has been embroiled in the so-called leasehold scandal, having been stripped of control of Canary Riverside in 2016 due to poor financial transparency and block management. [8] In August 2022, a costs order was made against it to protect residents at Canary Riverside against the "unreasonable conduct" of the owner of Yianis Group who, the Upper Tribunal determined, had pursued litigation "conducted with the intensity and expense and in the style of commercial litigation" so as "to harass and intimidate some or all of" the flat leaseholders. [9] In December 2022, a tribunal ruled that £1.6 million in insurance kickbacks and insurance premium tax was not payable by leaseholders at Canary Riverside. It had been heard that the surreptitiously inflated insurance premiums had been for commissions and fees to a freeholder linked company, Westminster Management Services. The tribunal praised the leaseholders' persistence and concluded that had they not bought the action, the information revealing the true scale of secret commissions reaped from the development would not have been obtained. [10] [11] [12] [13] In March 2024, the Upper Tribunal ruled in the appeal that the landlord "had failed to demonstrate" it was due any more than the £579,039 of the £1,638,709 that they had charged to the estate between 2010 and 2020, with £1,059,570 not payable by the leaseholders. [14] The overcharging represented 65% of the landlord insurance commissions.
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property.
Wood Wharf is a 23 acre site in Canary Wharf, London. It is currently under construction to provide offices, residential homes and retail space. The site is next to Canary Wharf. Wood Wharf will contain 5 million square feet of space, which will include 2 million sq ft of office space, 3,330 residential homes, 3.6 hectares of public spaces, and 380,000 sq ft of shops, restaurants and space for community use. It is estimated to be completed in 2023.
As a legal term, ground rent specifically refers to regular payments made by a holder of a leasehold property to the freeholder or a superior leaseholder, as required under a lease. In this sense, a ground rent is created when a freehold piece of land is sold on a long lease or leases. The ground rent provides an income for the landowner. In economics, ground rent is a form of economic rent meaning all value accruing to titleholders as a result of the exclusive ownership of title privilege to location.
Beetham Tower is a 47-storey mixed use skyscraper in Manchester, England. Completed in 2006, it is named after its developers, the Beetham Organisation, and was designed by SimpsonHaugh and Partners. The development occupies a sliver of land at the top of Deansgate, hence its elongated plan, and was proposed in July 2003, with construction beginning a year later.
The Lands Tribunal was a tribunal in the United Kingdom created by the Lands Tribunal Act 1949 that had jurisdiction in England and Wales and Northern Ireland, although in the Northern Ireland context the term Lands Tribunal normally refers to a different body, the Lands Tribunal for Northern Ireland. The Lands Tribunal was unusual in having both first instance and appellate jurisdiction. The functions of the Lands Tribunal were transferred to the Upper Tribunal in June 2009 by the Transfer of Tribunal Functions Order 2009.
A leasehold valuation tribunal (LVT) was a statutory tribunal in England which determined various types of landlord and tenant dispute involving residential property in the private sector. An LVT consisted of a panel of three; one with a background in property law ; one with a background in property valuation generally a qualified surveyor; and a layman, although some decisions of an LVT were decided by a single member. LVTs were non-departmental public bodies.
Spinningfields is an area of Manchester city centre, in North West England, developed in the 2000s between Deansgate and the River Irwell by Allied London Properties. The £1.5 billion project consists of 20 buildings, totalling approximately 430,000 m2 (4,600,000 sq ft) of commercial, residential and retail space. It takes its name from Spinningfield, a narrow street which ran westwards from Deansgate. In 1968, Spinningfield and the area to the south were turned into Spinningfield Square, an open paved area. Landmark buildings within the scheme include the Manchester Civil Justice Centre and 1 Spinningfields, a 90 m (300 ft) tall office building.
In English land law, a rentcharge is an annual sum paid by the owner of freehold land (terre-tenant) to the owner of the rentcharge (rentcharger), a person who need have no other legal interest in the land.
Riverside South is a proposed skyscraper development in Canary Wharf, London. Some below ground-level work was completed by 2014 on behalf of investment bank J.P. Morgan & Co., which bought a 999-year lease on the site with the intention of making the building its London office, but the firm has now moved into an existing Canary Wharf building. Future plans for Riverside South have not been publicised.
Heron Quays West is a skyscraper development under construction in Canary Wharf, London. The plan is for two large skyscrapers connected by a large atrium at the base, not unlike the Riverside South development. The site is at the south west of the Canary Wharf site off Bank Street. Developers for the project are the Canary Wharf Group.
Burrells Wharf is a riverside residential estate, owned by its leaseholders, in London, England. It is situated in Docklands on the Isle of Dogs and the North bank of the River Thames. The residential estate is one of 18 buildings or groups of buildings on the peninsula to be architecturally listed as buildings of special interest or importance.
The Law of Property Act 1925 is a statute of the United Kingdom Parliament. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The Act deals principally with the transfer of freehold or leasehold land by deed.
The Landlord and Tenant Act 1985 is a UK act of Parliament on English land law. It sets minimum standards in tenants' rights against their landlords.
Deansgate Square, formerly known as Owen Street, is a residential skyscraper cluster on the southern edge of Manchester City Centre, England, consisting of four towers, the tallest of which is 201 metres (659 ft). The site is just south of Deansgate railway station and north of the Mancunian Way, bounded by Deansgate, Owen Street and the River Medlock. The towers sit at different angles to each other, with a slight bevel, or 'cut back', on each side of each building which ensures the towers catch the light at different times of day.
AXIS is a residential tower in Manchester city centre, England. The tower has had two iterations, one as a stalled construction project which was cancelled due to the Great Recession in 2008, and the other as residential which was announced in 2014. When completed in 2019, Axis Tower became the seventh-tallest building in Greater Manchester until the completion of the Deansgate Square and Angel Gardens projects. As of July 2023, it is the 21st-tallest.
Canary Riverside Plaza Hotel is a luxury 5-star hotel in London, England. It is located at 46 Westferry Circus in Canary Wharf. The hotel has 142 rooms and suites containing large bay windows overlooking the River Thames. Its Ancient Egyptian inspired design by Renton, Howard, Wood & Levin, based on earlier work by Philippe Starck, features a curved patinated copper roof. This bold architecture was seen as a departure from the previous conservatism of the Four Seasons group, who built it as Four Seasons Hotel London at Canary Wharf.
Landmark Pinnacle is a 233-metre (764 ft) skyscraper constructed by developer Chalegrove Properties in Marsh Wall on the Isle of Dogs, London, United Kingdom. The 75-storeys Landmark Pinnacle is a short distance west from the financial center of Canary Wharf. It is the tallest residential tower in the United Kingdom, the tallest residential building in western Europe and has more habitable floors than any other building in western Europe. As of 2023, Landmark Pinnacle is the fourth-tallest building in the United Kingdom. The development was formerly known as City Pride, the same name as the public house it replaced, before a name change in 2016.
Ballymore Group is an Ireland-based international property development company. The majority of the company's employees and business activities are located in the UK.
Yiannakis Theophani "John" Christodoulou is a Monaco-based Cypriot billionaire property developer, the owner of Yianis Group, a privately held company with a portfolio of residential, hotel, retail and leisure properties in the UK and Europe. His Yianis Group employs over 7,000 people in the UK alone. Through Yianis Group, Christodoulou is reportedly one of England's biggest freeholder landlords.