Dear Residents
As you are aware, the Chelsea Harbour residents' service charge has increased substantially this year and is unlikely to be reduced in the foreseeable future. This not only places a significant burden on residents but also reduces the value of our properties.
To address this issue, residents have the option to purchase a share of the freehold from the Freeholder. The Freeholder is obligated to sell if more than 50% of residents are in agreement, and we are already close to reaching that number. Benefits of doing so include:
01.
The right to manage and control
the service charge
02.
No VAT on porters and similar services
03.
Autonomy over security
04.
Improved management of the service charge and reduction of waste
05.
Zero ground rent
06.
A significant increase in property value, as most buyers prefer freehold flats
We have an experienced law firm ready to facilitate this process. The cost of purchase is likely to be much less than you might expect and, in some cases, less than a year's current service charge.
If you would like to know more or wish to participate in this effort, please contact us at:
If you are a tenant, kindly pass this information to your landlord. A reduction in service charge could lead to lower rental fees.