The Priory Abbotskerswell

The Lease

The lease runs for 299 years, with a peppercorn ground rent. The salient points are (subject to contract):

Residents must be a minimum of 60 years of age: in the case of couples one must be 60.
The day-to-day management of the scheme will not be the responsibility of the residents, but will be dealt with by the management company.
The Leaseholder pays an annual Service Charge in monthly instalments, to cover the cost of services, maintenance and management.
The Leaseholder is free to sell the apartment or cottage to any person of his choice, provided the terms of the lease are complied with.
Upon resale of an apartment or cottage, the management company will charge a 1.5% transfer fee.
Residents may keep a small domestic pet, subject to the discretion of the management company.
The Lease's restrictive covenants are simple, and designed to protect the quiet enjoyment of all residents - the resident enjoys the privacy of his own home without interference.

The Service Charge

Each resident pays an apportioned share of the cost of running the scheme, which is estimated annually; audited accounts are circulated to all residents prior to the Annual General Meeting. The services provided within the Service Charge are:

Maintenance, repairs and renewal of the structure of the buildings, walls, boundaries, fixtures, fittings, furnishings, equipment in communal areas.
Maintenance of all plumbing, electrical TV and alarm system services to each apartment or cottage.
Cyclical decoration and routine maintenance of the exterior of all buildings, and the internal communal areas.
External window cleaning.
Service contracts fo the maintenance of the lift, alarm system, pool plant, laundry equipment etc.
Cleaning of all external and internal communal areas.
Maintenance of gardens, grounds, drives and paths.
Water charges to all apartments and cottages.
Heating and lighting to all communal areas.
Employment of adequate staff, including full time grounds man and part time caretaker.
Comprehensive insurance of all buildings and contents of the communal areas.
Annual independent audit of the management accounts.

Clennon Management charges a fee of 17.5% of the annual expenditure to cover the cost of management and administration, to the standards set out in the Lease.

Each resident is responsible for the council tax, electricity and telephone costs of their own apartment or cottage.