It looks like it's begun!

chucknorris

lisyloo wrote: »

If that is next clapham junction then I was looking at those recently.
Why would anyone want to live there?
Aren't the pros obvious?
Well comparatively cheap, excellent links to central London, the one I looked at had parking spaces, gym, swimming pool etc.

I did some research and wasn't prepared to live there (gated community rings alarm bells), but I wouldn't deny that there are pros.

Is there period property this close to central London that's reasonably priced and not in an area most people wouldn't want to live?

We only look at one bed flats because of the price point, but wouldn't buy a barratt shoe box because they are overpriced.

Yes that is them, I think they that are reasonably good, I can't remember how much the service charges were though. I think that I might have known years ago and thought that the service charge was a bit expensive, but I might be wrong. Maybe caronoel could could comment.

caronoel

chucknorris wrote: »

Yes that is them, I think they that are reasonably good, I can't remember how much the service charges were though. I think that I might have known years ago and thought that the service charge was a bit expensive, but I might be wrong. Maybe caronoel could could comment.

Service charges are high at about £3.5K per annum for a 2 bed, but you get a lot for this: 24 hour security and concierge, gym, swimming pool, well maintained grounds and so on.

There is a lot of regeneration in the area and the boom in Vauxhall prices should drive up prices in the locale.

The real sales point though is the easy commute at less than 10 minutes to Waterloo and Victoria and canary wharf is about 30 minutes away on the Overground (albeit with a change at Canada water )

chucknorris

caronoel wrote: »

Service charges are high at about £3.5K per annum for a 2 bed, but you get a lot for this: 24 hour security and concierge, gym, swimming pool, well maintained grounds and so on.

There is a lot of regeneration in the area and the boom in Vauxhall prices should drive up prices in the locale.

The real sales point though is the easy commute at less than 10 minutes to Waterloo and Victoria and canary wharf is about 30 minutes away on the Overground (albeit with a change at Canada water )

I know the area, I've got 4 flats within a mile of yours.

It was the service charge that put me off buying years ago, the service charge for my 4 flats is approx £1,150 (for 2 x 2 beds), £1,250 (for 3 bed), they are run by a management co-op rather than a private company and £600 (for another 3 bed, but only 4 leaseholders and we jointly bought the freehold ourselves). But I understand that you probably get a bit more rent for the services that come with that higher service charge too, so it isn't just about extra cost.

caronoel

chucknorris wrote: »

I know the area, I've got 4 flats within a mile of yours.

It was the service charge that put me off buying years ago, the service charge for my 4 flats is approx £1,150 (for 2 x 2 beds), £1,250 (for 3 bed), they are run by a management co-op rather than a private company and £600 (for another 3 bed, but only 4 leaseholders and we jointly bought the freehold ourselves). But I understand that you probably get a bit more rent for the services that come with that higher service charge too, so it isn't just about extra cost.

One other advantage of the Falcons is that you can buy into the freehold for a couple of hundred quid.

Might be a few pounds well spent if they need extra space for the Crossrail 2 station next decade.

And if they ever go wild and link up CJ with the tube, well then prcies will start to get silly!

chucknorris

caronoel wrote: »

One other advantage of the Falcons is that you can buy into the freehold for a couple of hundred quid.

Might be a few pounds well spent if they need extra space for the Crossrail 2 station next decade.

And if they ever go wild and link up CJ with the tube, well then prcies will start to get silly!

I've got 3 flats in one block where they are currently exploring buying the freehold, maybe you know how that would work when not all of the leaseholders want to buy? Do they ask other leaseholders to invest more?

The reason I ask is that I may be interested in investing substantially more than just the cost of the share of my 3 flats, would that be a possibility? If so, what would the return/profit be on the extra invested? Obviously I don't mean actual figures, just what the logic of the mechanism would probably be, based upon what happens with your falcons road flat?

AG47

caronoel wrote: »

Service charges are high at about £3.5K per annum for a 2 bed, but you get a lot for this: 24 hour security and concierge, gym, swimming pool, well maintained grounds and so on.
)

Sounds great for the tenants and not so great for the LL.

caronoel

AG47 wrote: »

Sounds great for the tenants and not so great for the LL.

Yet more sparkling insight from you.

This is indeed great for the tenants, which is why I can charge a rent that yields 8% income from my original investment in addition to a £200k asset price rise over the past 5 years.

Lovely jubbly

:beer::beer::beer:

lisyloo

Sounds great for the tenants and not so great for the LL.

Don't businesses e.g. landlords, pass on their costs plus profit to tenants.
Looks like a way to make more profit to me.
No idea why you're saying a better equipped flat put the LL in a worse position. Perhaps you can explain.