Purchase Price and Charges
What will it cost to live at Honeybourne Gate?
We want to be up front about costs – so there are no surprises.
The available apartments cost between £175,000 and £375,000 depending on the number of bedrooms, floor area, position in the building. The full current price list for all apartments can be downloaded here.
From time to time we have special ‘incentive’ packages available on some apartments and we always have a package of help available to make moving easier and cheaper. We can also arrange part-exchange and, on some apartments, shared equity is an option. A small number of apartments are also available for rent. Our current Special Offer is a moving in package – please ask for details.
The 2024 Service Charge is £6,786 per annum/£565.50 per calendar month for a 1-bed apartment, and £7,540 per annum/£628.33 per calendar month for a 2-bed apartment.
This charge covers the cost of all the onsite staff 24 hrs a day, safety systems throughout the development, building maintenance and your apartment’s building insurance. You also have a fabulous hour and a half of housekeeping/laundry each week. Plus, Honeybourne Gate’s unique numerous on-site facilities are included – use of the fitness pool and gym, roof terrace, movie room, library, Owner’s lounge, and atrium. A full guide to what the service charge cover can be downloaded here.
There is also ground rent payable on each apartment of between £199 per year and £411 per year.
If you are downsizing you may find that the service charge covers many of the things you are currently paying for separately and represents a saving on your outgoings, but you will need to check this for yourself. An information sheet showing potential savings that you might make compared to the outgoings on your current property can be downloaded from this page.
When you sell your apartment there is a transfer charge to be paid (some people call this an event fee or the transfer premium) and this works out at 4.5% of the sale price. It covers long term building maintenance and selling your apartment (so no need to pay an estate agent).
Detailed information about the transfer charge can be downloaded here.
The transfer charge and service charge are called ‘key terms’ in the lease so leaseholders have a legal obligation to pay them and it is important that you know how they work.
Of course, we are more than happy to answer all your questions. Just get in touch:
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