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1000 Pcm Service Charge In Se5


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#1 Will!

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Posted 09 January 2012 - 12:57 PM

I should add this does include heating and hot water.

Three bedroom, 70 sq m flat in nice block. All owner-occupiers, no BTL. Flat is leasehold (sub-lease 160 years) with sub-leaseholders owning a share of the management company that owns the head lease (60 years). Freehold is owned by Southwark Borough Council.

A service charge of 1000 pcm for a flat in Camberwell seems a bit high to me, but I don't have much of a sense of typical service charges in London. Any thoughts? (Other than don't buy in Camberwell, obviously.)

Cheers

Will

#2 Rave

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Posted 09 January 2012 - 01:03 PM

No, that's completely ridiculous. 2k P/A is the maximum I'd consider reasonable unless the block has a pool, gym, and porter?!

Even a poorly insulated flat isn't going to cost more than about 1k a year to heat and provide hot water for. I'd love to know where the rest of it goes....

Oh, and don't buy in Camberwell ;) .

#3 thejaksie

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Posted 10 January 2012 - 09:23 AM

outrageous
the highest i've seen was 7k per annum on a 1000sqft 2 bed. that building included swimming pook, gym, porter, gardens, etc
usual charge is between 2-5k I would say if it's a new building with lifts but no fancy stuff

#4 sleepwello'nights

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Posted 10 January 2012 - 09:49 AM

A service charge of 1000 pcm for a flat in Camberwell seems a bit high to me, but I don't have much of a sense of typical service charges in London. Any thoughts? (Other than don't buy in Camberwell, obviously.)

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#5 Will!

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Posted 25 January 2012 - 04:42 PM

Thanks all.

No, that's completely ridiculous. 2k P/A is the maximum I'd consider reasonable unless the block has a pool, gym, and porter?!

Even a poorly insulated flat isn't going to cost more than about 1k a year to heat and provide hot water for. I'd love to know where the rest of it goes....

Oh, and don't buy in Camberwell ;) .


The rest is going on replacing the heating and hot water system, which is estimated to cost 4m. I don't think the service charge will be going down any time soon. Flats in the block still going Under Offer for close to 2007 asking prices though!

#6 SHERWICK

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Posted 01 February 2012 - 06:13 PM

I should add this does include heating and hot water.

Three bedroom, 70 sq m flat in nice block. All owner-occupiers, no BTL. Flat is leasehold (sub-lease 160 years) with sub-leaseholders owning a share of the management company that owns the head lease (60 years). Freehold is owned by Southwark Borough Council.

A service charge of 1000 pcm for a flat in Camberwell seems a bit high to me, but I don't have much of a sense of typical service charges in London. Any thoughts? (Other than don't buy in Camberwell, obviously.)

Cheers

Will


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#7 BadMouse

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Posted 09 February 2012 - 01:42 PM

Is this RPH? I used to own a flat there and the service charge I seem to recall was about 2000 PA. 1000PCM is ridiculous and no, not normal for Camberwell!

Prices are still insane in SE5 - people are asking and actually appear to be paying 400++ for a three bed house. Higher than 2007 by a way. Who is buying them? This is Camberwell, why would you pay close to half a million for a small house?

#8 Will!

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Posted 09 February 2012 - 08:15 PM

Is this RPH? I used to own a flat there and the service charge I seem to recall was about 2000 PA. 1000PCM is ridiculous and no, not normal for Camberwell!


It is. I've decided not to buy there after obtaining a look at RPH Ltd's accounts.

Prices are still insane in SE5 - people are asking and actually appear to be paying 400++ for a three bed house. Higher than 2007 by a way. Who is buying them? This is Camberwell, why would you pay close to half a million for a small house?


Indeed. It is absolutely bonkers.




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