Lease & Freehold
The lease runs from the 11th December 1985 for 999 years.
When you are assigned the lease, you’re also issued with a share in the Residents’ Association who the own the Freehold.
Waterlow Court Residents’ Association Limited
The Waterlow Court Residents’ Association is composed entirely of residents, many of whom give them their time and expertise generously to ensure that Waterlow Court is properly maintained. Some of the work is outsourced to a property management company, Encore Estate Management Ltd, who look after routine tasks such as issuing invoices and collecting the service charge.
Service Charge & Ground Rent
The service charge for flat 1, including £10 ground rent, is approximately £860 per quarter. All communal flats need to be maintained, and Waterlow Court is no different: the building needs to be insured, the cloisters need to be swept, and the gardens need to be tended. The service charge is comparable with other blocks in the area.
Waterlow Court is located on the southern edge of Barnet. Flat 1 falls in valuation band D. This is currently £1,545.41 per year. Single person’s discount is 25%, reducing the amount payable to £1159.06
Licence to Assign
As with many leases you need to be granted the licence to assign by Waterlow Court Residents’ Association. You’ll need a reference that states you are a trustworthy individual of sound financial standing.
Listed Building Consent
Any alteration requires approval from the Waterlow Court Residents’ Association, Hampstead Garden Suburb Trust, and Barnet Council. It is a criminal offence to alter a listed building without proper consent.