Apartment 17 £210,000 (other charges apply)

Our range of spacious apartments are designed to offer flexibility to suit everyone. We also focus on the little things that make a big difference – from how a home feels, such as natural light, a user-friendly layout, a private patio or balcony – to smart, space-saving storage.

Our apartments offer a range of features and fittings to guarantee years of hassle-free living. A typical example would include:

• Beautifully appointed kitchens with fully integrated appliances including oven, hob with extractor,microwave, fridge freezer and dishwasher
• Walk on balconies or patios to most apartments
• En-suite and bathroom with heated towel rails to many apartments
• Slip resistant and level access shower rooms
• Wardrobe to master bedroom
• Utility cupboards with space for a washer/dryer and in most cases separate storage rooms
• 24-hour emergency call system linked directly to dedicated on-site team
• Audio and visual entry system to main entrance
• Wider doorways and spacious rooms for ease of wheelchair access
• Ample easy reach sockets, light switches and telephone points
• Electric throughout with energy efficient hot water and central heating system

Service and Well-being Charge

All our homeowners contribute monthly to a Service and Well-being Charge to cover services such as:

• A table service restaurant with on-site chef offering freshly prepared meals
• Communal cleaning, estate management and upkeep of the landscaped gardens
• External window cleaning, including all individual apartments
• Water usage and buildings insurance
• 24-hour on-site support everyday, 365 days a year, in case of emergency, with a discreet emergency call system installed in each apartment

Our on-site management team are always available to homeowners and check on their well-being, liaise with family and professional services as required. They also organise a full calendar of social events and activities.

2024/25 approximate weekly Service and Well-being Charge at The Folds are:

• 1 bedroom £202
• 2 bedroom £212
• 3 bedroom £230

The Service and Well-being Charge is reviewed annually. It is important to point out that payment of the service charge has to continue even if the apartment is vacant, as it is apportioned between all homeowners in order to maintain the high standard of service.

Individual Responsibilities

While your own household expenditure should reduce when you move to The Folds, it’s important to remember that you’ll still be responsible for:

• Council Tax
• Your apartment electricity usage
• Contents Insurance
• Telephone line rental and broadband (where applicable)
• TV licence (where applicable)
• Satellite television package (a communal satellite dish with connection points is provided in your apartment)

Ground Rent

The Folds offers extensive communal facilities which are at the heart of a thriving community. These include our homeowners’ lounge, table service restaurant, coffee lounge, hairdressing salon, guest suite, staff rooms, management offices, and the mobility scooter and bicycle store, as well as landscaped gardens.

We charge an annual Ground Rent to recoup the considerable costs of investing in these extensive facilities.

Annual Ground Rent charges 2024:

• 1 bedroom apartments –  £1,103.56
• 2 bedroom apartments – £1,226.18
• 3 bedroom apartments – £1,471.42

The ground rent is due annually from 1st January and will be reviewed every year in line with the Retail Price Index.

In addition, to give homeowners maximum flexibility, we have incorporated into our lease the option to buy out your Ground Rent at any time by giving the legal landlord written notice, and paying a fee of 40 x the annual Ground Rent at the time of the service of the notice, which will take effect from the 1st January the following year. For every year after that for the duration of the lease the rent will be “a peppercorn” (i.e. zero pounds).

If you wish to exercise this right upon your initial purchase, please let us and your solicitor know, and we can accommodate this from the outset for the cost of 40 x the initial Ground Rent set for your home (e.g. to buy out the Ground Rent at the outset for a one bedroom home would cost 40 x £1,063.41 = £42,536.40). (Applicable to new apartment sales only.)

Building Reserve Fund

While the day to day maintenance of the buildings and facilities is covered by the Service and Well-being Charge, which is kept as low as possible to leave homeowners with maximum disposable income, major capital costs and refurbishment are not included.

It is important that maintenance is kept to the highest standards for all to enjoy, and to cover any major works, a fee of 0.25% of your sale price for each year, or part-year, of occupation will be levied when you sell on your apartment.

The Building Reserve Fund will build up over time so that money is available to pay for capital costs as they occur e.g replacement lifts, restaurant kitchen equipment, the buildings roof and car park etc. This means that the development is always kept up to the same standard as when you purchased your apartment.

As an example, if a property that has been owned for 9 years and 7 months is sold for £300,000, the fee payable will be £7,500 (Sale price x 0.25% x years or part-years owned).

An up-to-date Fund balance is available on request.

Care Charges

Additional personal tailored care packages can be designed to suit your individual requirements. All care packages are drawn up in consultation with you, based upon a careful assessment of needs and regularly reviewed, including short term illness and recuperation packages. Costs are based on the level of need per person and will be provided in advance and charged approximately from £23.00 per hour per carer.