New build flat

greenwood132

Hello all

I'm looking to buy something and have come to the conclusion that in my market I want to be close to the city centre. I'm in Plymouth and need 2 parking spaces and ideally a reasonable amount of space. I don't really want to deal with the issues of an old property with questionable previous maintenance and have come across a flat up for £425k in Teesra house. I'm afraid it's my first post so the forum won't let me post links to it.

They have flats like this on the first floor available for £365k this one is on the 3rd floor and is up for £425k all of them have been on sale for over a year and the development is almost complete. These flats do not have the views over the cricket pitch the 2 beds do and are priced at a premium. I like this development because it comes with 2 parking spaces ready for electric charging, there is a bike store and the flats themselves are high tech with cat 5 and modern heating systems. Even so if they haven't sold for a year that worries me I'd prefer the 3rd floor but can't afford £425k and would worry paying that for it as most the other flats have sold but these designs haven't. The design suits me but do you think if I offered £375k then I might not be taken seriously?

silvercar

https://www.rightmove.co.uk/properties/84082785

devoncop22

I policed in Plymouth until my retirement in 2015. You may be familiar with the area but if not be aware that Stonehouse and Devonport are two of the most deprived areas of a pretty poor city and suffer from fairly significant crime and especially anti social behaviour issues.

Stonehouse (across a small bridge from your proposed flat) is the location of the streetwalking prostitute area at night so residents suffer from kerb crawlers quite often walking back from the city centre. Just something to be aware of.

NameUnavailable

New flats should not have any ground rent. I expect the leases on these were issued prior to the new laws coming in - be aware that if/when the ground rent escalates above £250 it will become difficult to sell as the lease becomes an AST (google it for more info).

If these new flats aren't selling there will be a reason......

macman

Does 'modern heating system' mean some form of district heating whereby CH and DHW are produced at a central boiler and distributed to the flats via individual HIU's?  If so, find out the kWh rates and standing charges and bear in mind that these prices are completely unregulated, can be subject to steep rises at contract end, and you cannot change supplier.

greenwood132

devoncop22 said:

I policed in Plymouth until my retirement in 2015. You may be familiar with the area but if not be aware that Stonehouse and Devonport are two of the most deprived areas of a pretty poor city and suffer from fairly significant crime and especially anti social behaviour issues.

Stonehouse (across a small bridge from your proposed flat) is the location of the streetwalking prostitute area at night so residents suffer from kerb crawlers quite often walking back from the city centre. Just something to be aware of.

Luckily for me I already live in Stonehouse so have first hand experience of what you describe 

[Deleted User]

macman said:

Does 'modern heating system' mean some form of district heating whereby CH and DHW are produced at a central boiler and distributed to the flats via individual HIU's?  If so, find out the kWh rates and standing charges and bear in mind that these prices are completely unregulated, can be subject to steep rises at contract end, and you cannot change supplier.

Also if it's not a heat pump there might be massive costs coming down the line to replace it. Sales of gas boils are going to end.

greenwood132

I've found out about the ground rent - it is peppercorn they just haven't updated the advert details since the new legislation came in. The communal system is metered and the estate agent says I could use any energy company for it. On my first viewing, they did mention the type of heating system but I can't remember which one it is although I'm pretty sure it isn't a boiler. I will enquire further.

user1977

greenwood132 said:

The communal system is metered and the estate agent says I could use any energy company for it. 

In what sense is it "communal" then?

MFWannabe

Wow they’re so expensive 🙄 probably why they’ve not sold in a year 🤷‍♀️ 
I think I’d be looking at what else is available in your area 

greenwood132

user1977 said:

greenwood132 said:

The communal system is metered and the estate agent says I could use any energy company for it. 

In what sense is it "communal" then?

It is a singular heat source and each flat has its own meter showing what they are using.