I thought I would take the opportunity to update you on a few of the developments planned and a proposal to help the resale value of your apartment(s).
To help promote the development it is proposed to cover the two wrought iron gates either side of the underpass with promotional signage, promoting the building. Draft artwork will be circulated for your review ahead of the order being placed.
The proposal is to re-site the bins to the front of the property, behind the new signs, where the gravel currently is. This area will be enclosed by a brick wall. Two additional bins will be provided. The current bin areas will be removed and the lawn extended.
Helping with resale values
The freeholder for the development is absent and the title is now with the state under ‘bono inventia’.
Although it is possible to sell your apartment without an active freeholder, it can reduce the resale value.
To rectify this it is possible to request the transfer of the freehold from the state to a company whose members/ shareholders are the leaseholders in the building. This requires setting up a company with all leaseholders as shareholders.
The cost of setting the company up and issuing shares of £1 each is c£100 and the freehold transfer costs will be c£1500.
ie: less than £100 per flat to effect the transfer.
The added value of setting up a residential management company for Park View is that you as leaseholders will control the management activities, the service charge and can appoint/ replace the managing agent.
If you are in agreement could you please send an email to firstname.lastname@example.org stating your flat number.
If you are interested in becoming a director of the company, again please email email@example.com
If agreed by the new residential management company the transfer costs of the freehold could be paid for out of the service charge funds.
Service Charge Accounts
Service charge accounts will be produced in May for the period 2015/16 and emailed to all leaseholders.
A copy will also be accessible via the Park View web page.
Note: The repair of the roof is planned for Wednesday 2nd March.
If you have any questions about the management of the development, please ring Mike Carey on 07873 511849.