Completion Date
The completion date is planned for the end of July 2008. If your apartment is not available by an agreed date, your solicitor can reclaim your deposit and you will have no further contractual liabilities.
Service Charge & Ground Rent
The apartments are leasehold and each apartment is being sold on a 999 year lease. The service charge is £950 per year. The service charge includes buildings insurance covering the whole building, general maintenance and required expenditure on the building, a management fee, and a "sinking fund" to cover future maintenance/replacement of larger elements. Ground rent is £250 per year.
VAT
No VAT is payable on the price of the apartments.
Secure Parking
A parking space is included in the price of the apartment. Lift access is provided from the parking area to all apartments.
Lettings
Zenith has been pre-approved by three high end holiday letting services. It is even possible to offer your apartment for lettings for the summer 2008 so that you will have income immediately after taking possession. Projected rental income for each apartment has been provided by professional local letting companies. For more information on recommended holiday letting companies and rental projections, please contact us or see Holiday Lettings Companies section.
Planning Classification - Significant Tax Benefits
The apartment has a holiday use planning classification, which is very common in the Southwest. Significant capital gains tax benefits exist with this type of property over buy to let or second home investments. For more information please contact us or see the Benefits of owning Holiday Accommodation section.
Mortgages
Competitive mortgages are obtainable in the market from lenders providing mortgages for buy to let properties or second homes. Mortgages are available up to 85% of the value of the apartment, depending on the lender.
The completion date is planned for the end of July 2008. If your apartment is not available by an agreed date, your solicitor can reclaim your deposit and you will have no further contractual liabilities.
Service Charge & Ground Rent
The apartments are leasehold and each apartment is being sold on a 999 year lease. The service charge is £950 per year. The service charge includes buildings insurance covering the whole building, general maintenance and required expenditure on the building, a management fee, and a "sinking fund" to cover future maintenance/replacement of larger elements. Ground rent is £250 per year.
VAT
No VAT is payable on the price of the apartments.
Secure Parking
A parking space is included in the price of the apartment. Lift access is provided from the parking area to all apartments.
Lettings
Zenith has been pre-approved by three high end holiday letting services. It is even possible to offer your apartment for lettings for the summer 2008 so that you will have income immediately after taking possession. Projected rental income for each apartment has been provided by professional local letting companies. For more information on recommended holiday letting companies and rental projections, please contact us or see Holiday Lettings Companies section.
Planning Classification - Significant Tax Benefits
The apartment has a holiday use planning classification, which is very common in the Southwest. Significant capital gains tax benefits exist with this type of property over buy to let or second home investments. For more information please contact us or see the Benefits of owning Holiday Accommodation section.
Mortgages
Competitive mortgages are obtainable in the market from lenders providing mortgages for buy to let properties or second homes. Mortgages are available up to 85% of the value of the apartment, depending on the lender.
Useful Information