British runner-up Raheem Sterling is building a £7m mansion after buying a 3.5-acre plot of land from King Charles

The Chelsea winger will also have to pay rent to the king every year.

According to one story, English footballer Raheem Sterling paid 2.3 million pounds for land owned by King Charles.

The 28-year-old bought the 3.5-acre plot of land owned by the Crown Estate in Ascot, Berkshire. The player was a standout figure for the Three Lions throughout their tragic Euro 2020 campaign.

Essentially, the Crown Estate would act as Sterling’s landlord and he would have to pay annual rent.

According to The MailOnline, former player of both Manchester City and Liverpool, Sterling, will build a brand new 5-bedroom villa.

According to aerial photos, Sterling’s new home will have a pool or other water feature.

The British-Jamaican star’s home is said to be worth £7 million.

It will also have a large basement with potential amenities including a two-lane bowling alley and underground swimming pool.

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According to land registry data, Sterling purchased the plot of land in May 2021.

Before closing the deal, the Chelsea winger was said to have had £195,000 off his asking price of £2.495m.

Sterling’s lease on the site runs for the remaining 141 years.

The amount of rent that Sterling must pay is not public.

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However, one expert told MailOnline: “Some people may think it’s unusual for someone as wealthy as Sterling to buy a leasehold property where they never actually owned the freehold of the land ”.

Although rental apartment ownership is more common, leases can be applied to any type of property.

“The majority of properties in some major areas of London are rental properties.

As a tenant, Sterling will continue to have several important perks.

The land will never be owned entirely by him.

The law stipulated that whoever owned it at that time would have the right to renew it, but he would cease to exist when the lease expired in 141 years.

They will have money to buy a new lease. It is debatable how much that amount will be.

“It is possible that the terms of his current lease include information about what the renewal costs will be, adjusted for inflation.”