Any reason why all the flats in part of a building would be unoccupied?

buzzyzoe

Hi all,

Hoping someone has some advice for me. I'm interested in buying a flat in a converted building. The building is from around the beginning of the 20th century, and used to be a pub. I've attached a picture if that helps.

There are 6 units, one on the front (45), the one I'm interested in (45d), 3 flats that share one entrance (45a,b,c) and one on the end (45e).

45 is definitely empty, there's furniture piled up in the window. 45e is almost definitely empty, there's ivy starting to cover the front door. We rang the bell for the other 3, only one answered. She rents one of the upstairs units and has only lived there for 4 months. She didn't know if any of the other units are occupied.

The current owner of the one I'm interested in doesn't live there, it was previously tenanted but is now empty. She doesn't know whether any other units are occupied. It's been on the market for around 6 months, only one offer, which was rejected, so it's never got to survey stage.

Another concern is that she has apparently said if she doesn't get an offer this week, she will rent it out again. The sounds like typical EA tactics to me.

I guess my (very long winded!) question is whether there's any possible reason for all the downstairs units in a building to be unoccupied? I've viewed the one I'm interested in twice, and can't see anything obviously wrong with it, no evidence of damp or subsidence etc.

Is there anything more I can do to find out any extra information? I've already asked the EA, the owner and knocked on the door of all the units in the building.

I wouldn't be too worried about building maintenance, as there's a service charge which covers external repairs. Would the fact that so many units are empty ring alarm bells though? Obviously not expecting any definite answers, but opinions would be gratefully received, as always!

Other than this little niggle, it's pretty much perfect.

buzzyzoe

Not sure my image worked in the original post, here's another go:

http://imgur.com/YIUUPpD

RAS

I would be tempted to:

1. Go to the main local library and check the electoral roll for the last few years.
2. Download the ownership details from the Land Registry
3. Check the local paper for reports ofd incidents
4. Speak to the folk in the local corner shop etc.

Land_Registry

If you decide to check if the property and/or the flats are registered then you can do so via our online FAQ - there is a fee (starts at £3) for checking any available information

Bear in mind if any of the flats are let for short terms (less than 7 years)then they are not likely to be registered.

Any details are likely to merely confirm who owns the property but that may help to form a better picture re the circumstanecs as a whole

[Deleted User]

I'd also be looking into the management company, see if they do do required repairs, investigate if there is a large service charge increase coming up etc. These could all be areas why that particular area is empty. I'd also visit at various times, including night to see if there's a noise problem.

buzzyzoe

Thanks all, some great suggestions.

I have already bought the title plans and flood risk indicator from the Land Registry for the one I'm interested in (can't remember the exact names of the documents, but I bought everything that was available!) The benefit of this is that it confirmed the owner, the lease length and the exact plot. Unfortunately, I think a lot of it went over my head, and just sounded like legalese. I would be happy to pay for the title plans of all properties in the building, but not sure how much more I would learn.

Going to the service charge management company sounds like a good idea - is there a way of finding out who this is, or should I just ask the seller?

We have visited multiple times, a few times at night, and haven't heard any noise at all (not that surprising if most of the units are empty). The woman we spoke to who rents one of the upstairs flats also mentioned without being asked that it's an extremely quiet area.

It's in a busy area of London, so no local corner shop as such, and not the kind of area where people really know what's going on much beyond their street unfortunately.

Checking the local paper is definitely a good idea, I'll do that.

I don't know how much weight to put in the claims that the seller will rent out again if she doesn't receive an offer this week. It almost definitely sounds like bluffing, but not sure I want to take the chance. I was thinking of telling the estate agent that I will definitely make an offer next week, but I want some time to think over exactly what I can afford. I'm not sure what I'm waiting for really, but feel out of principle that this shouldn't be a decision that is rushed.

Land_Registry

The management company may be mentioned as a party to one of the leases and/or referred to on the register elsewhere e.g. a restriction in their favour.

The most likely place though would be one of the leases for the flats, especially if the Management Company was there from day one. Otherwise it is probably back to one of the occupiers to see if one exists? etc

buzzyzoe

I asked the EA for the management company's details. It's managed by Moreland Estate Management. Anyone had any experience with them? Google seems to mainly have good things about them, mixed in with one bad from this forum.

I phoned and asked about the service charge. He gave me a list of things that it covered, fairly standard things I think, such as sink fund, building insurance, window cleaning, maintenance, accounts etc. It varies each year depending on how much work, but in the last 2 years it has gone down rather than up, so doesn't seem like it will be constantly going up. Again, I'm taking all this information at face value, as I don't really have another option.

I asked whether there's any kind of cap, or guarantee that it won't become extortionate, and apparently there's nothing like that in place. No idea if that's normal or not though, it makes sense that it will vary according to the work that needs doing.

Still can't find any obvious reasons why all of the ground floor flats are empty.