Jacobs Gate, Sheffield
04
08
10
13
- 07 Flo or plans
- 09 Apartment Prices
- 12 Summary of Charges Contents
- 18 Key Facts 3
8 3 2 1 4 5 6 7 12 11 10 9 1 B ed room 1 B edroom D e l u x e 2 B ed room 2 B edroom En - Sui te 3 B edroom En - Sui te 2 B edroom En - Sui te with Study Homeowners’ Lounge Restaurant Main Entrance Mobility Scooter & Bicycle Store Hairdressing Salon Therapy Suite Manager’s Room Management Team Entrance Lobby Foyer Lift Lift Kitchen Bedroom Two Bedroom One Bathroom En-suite Shower Bedroom One Living Room Store Room Utility Kitchen Bedroom Two Study Living Room Kitchen En-suite Shower Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Utility Store Room Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Bathroom Bedroom Two Bedroom One Study Living Room Kitchen En-suite Shower Bathroom Utility Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Store Room Kitchen Living Room Utility/ Store Room Shower Room Bedroom Bedroom Living Room Shower Room Kitchen Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Staff Area Ground Floor plan 9 10 8 7 6 11 12 2 5 4 1 3 Second Floor Third Floor First Floor
N N 4
Floor plans Apartment Prices Summary of Charges Key Facts
1 B ed room 1 B edroom D e l u x e 2 B ed room 2 B edroom En - Sui te 3 B edroom En - Sui te 2 B edroom En - Sui te with Study 20 14 13 31 15 16 18 19 24 23 22 21 25 26 27 28 29 30 17 Lift Lift Bedroom Two Bedroom One Bathroom En-suite Shower Bedroom One Living Room Store Room Utility Kitchen Bedroom Two Study Living Room Kitchen En-suite Shower Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Utility Store Room Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Bathroom Bedroom Two Bedroom One Store Room Study Living Room Kitchen En-suite Shower Bathroom Utility Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Utility/ Store Room Shower Room Bedroom Bedroom Living Room Shower Room Kitchen Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Store Room Store Room Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Bedroom One Bedroom Two Kitchen Living Room Utility Bathroom En-suite Shower Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Shower Room Kitchen Living Room Bedroom Utility/ Store Room Utility/ Store Room Utility Store Living Room Bedroom Kitchen Shower Room Kitchen Living Room Utility/ Store Room Shower Room Bedroom Kitchen Living Room Shower Room Bedroom Utility Store Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room First Floor plan 21 22 20 19 18 23 24 13 17 15 28 14 25 26 27 29 30 31 16 Second Floor Third Floor Ground Floor Floor plans Apartment Prices Summary of Charges Key Facts N N 5
1 B ed room 1 B edroom D e l u x e 2 B ed room 2 B edroom En - Sui te 3 B edroom En - Sui te 2 B edroom En - Sui te with Study 33 32 49 34 35 37 38 43 42 41 40 44 45 46 47 48 36 39 Lift Lift Bedroom Two Bedroom One Bathroom En-suite Shower Bedroom One Living Room Store Room Utility Kitchen Bedroom Two Study Living Room Kitchen En-suite Shower Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Utility Store Room Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Bathroom Bedroom Two Bedroom One Store Room Study Living Room Kitchen En-suite Shower Bathroom Utility Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Utility/ Store Room Shower Room Bedroom Living Room Kitchen Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Bedroom One Bedroom Two Kitchen Living Room Store Room Utility Bathroom En-suite Shower Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Shower Room Kitchen Living Room Bedroom Utility Utility Store Shower Room Kitchen Living Room Utility/ Store Room Shower Room Bedroom Kitchen Living Room Shower Room Bedroom Utility/ Store Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Bedroom One Bedroom Two Store Room Second Floor plan 40 41 39 38 37 42 32 36 34 46 33 44 45 48 49 35 43 47 First Floor Third Floor Ground Floor Floor plans Apartment Prices Summary of Charges Key Facts N N 6
51 50 65 52 53 55 56 60 59 58 61 62 63 64 54 57 Activity Studio Guest Suite Staff Room Staff Sleep Over Lift Lift Bedroom Two Bedroom One Bathroom En-suite Shower Bedroom One Living Room Store Room Utility Kitchen Bedroom Two Study Living Room Kitchen En-suite Shower Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Utility Store Room Bathroom Kitchen Living Room Bedroom One En-suite Shower Bedroom Two Bedroom Three Store Room Utility Bathroom Bedroom Two Bedroom One Store Room Study Living Room Kitchen En-suite Shower Bathroom Utility Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Utility/ Store Room Shower Room Bedroom Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Bathroom En-suite Shower Bedroom One Living Room Utility Kitchen Bedroom Two Store Room Bedroom One Bedroom Two Kitchen Living Room Store Room Utility Bathroom En-suite Shower Kitchen Living Room Utility/ Store Room Shower Room Bedroom Kitchen Living Room Shower Room Bedroom One Bedroom Two Utility Store Room Kitchen Living Room Utility/ Store Room Bedroom Shower Room Bedroom Shower Room Living Room Kitchen Utility/ Store Room 1 B ed room 1 B edroom D e l u x e 2 B ed room 2 B edroom En - Sui te 3 B edroom En - Sui te 1 B edroom Bespoke 2 B edroom En - Sui te with Study Third Floor plan 58 59 57 56 55 60 50 54 52 63 51 61 62 64 65 53 First Floor Second Floor Ground Floor Floor plans Apartment Prices Summary of Charges Key Facts N N 7
Apartment Prices Apt No Description Size SQ FT Price 1 Ground Floor – 2 Bed En-suite Apartment 843 2 Ground Floor – 2 Bed En-Suite Apartment 997 3 Ground Floor – 3 Bed En-Suite Apartment 1,070 SOLD 4 Ground Floor – 2 Bed Apartment 802 SOLD 5 Ground Floor – 2 Bed Apartment 800 6 Ground Floor – 2 Bed En-Suite Apartment 861 SOLD 7 Ground Floor – 2 Bed En-Suite Apartment 861 SOLD 8 Ground Floor – 3 Bed En-Suite Apartment 1,070 SOLD 9 Ground Floor – 2 Bed En-Suite Apartment 997 10 Ground Floor – 2 Bed Apartment 800 SOLD 11 Ground Floor – 1 Bed Deluxe Apartment 587 SOLD 12 Ground Floor – 1 Bed Apartment 393 13 1st Floor – 2 Bed En-Suite Apartment 997 14 1st Floor – 3 Bed En-Suite Apartment 1,070 15 1st Floor – 2 Bed Apartment 802 SOLD 16 1st Floor – 2 Bed Apartment 800 SOLD 17 1st Floor – 2 Bed En-Suite Apartment 966 18 1st Floor – 2 Bed En-Suite Apartment 861 19 1st Floor – 2 Bed En-Suite Apartment 861 20 1st Floor – 3 Bed En-Suite Apartment 1,070 SOLD 21 1st Floor – 2 Bed En-Suite Apartment 997 22 1st Floor – 2 Bed Apartment 800 23 1st Floor – 1 Bed Deluxe Apartment 587 SOLD 24 1st Floor – 1 Bed Apartment 393 25 1st Floor – 1 Bed Apartment 393 26 1st Floor – 1 Bed Deluxe Apartment 599 SOLD 27 1st Floor – 2 Bed Apartment 786 28 1st Floor – 1 Bed Deluxe Apartment 579 29 1st Floor – 1 Bed Apartment 393 SOLD 30 1st Floor – 2 Bed En-Suite Apartment 861 31 1st Floor – 2 Bed En-Suite Apartment 843 Floor plans Apartment Prices Summary of Charges Key Facts 8 SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD £275,000 SOLD SOLD
Apt No Description Size SQ FT Price 32 2nd Floor – 2 Bed En-Suite Apartment 997 33 2nd Floor – 3 Bed En-Suite Apartment 1,070 SOLD 34 2nd Floor – 2 Bed Apartment 802 35 2nd Floor – 2 Bed Apartment 800 SOLD 36 2nd Floor – 2 Bed En-Suite Apartment 966 37 2nd Floor – 2 Bed En-Suite Apartment 861 38 2nd Floor – 2 Bed En-Suite Apartment 861 39 2nd Floor – 3 Bed En-Suite Apartment 1,070 SOLD 40 2nd Floor – 2 Bed En-Suite Apartment 997 41 2nd Floor – 2 Bed Apartment 800 42 2nd Floor – 1 Bed Deluxe Apartment 587 43 2nd Floor – 2 Bed Apartment 812 SOLD 44 2nd Floor – 1 Bed Deluxe Apartment 599 45 2nd Floor – 2 Bed Apartment 786 SOLD 46 2nd Floor – 1 Bed Deluxe Apartment 579 47 2nd Floor – 2 Bed Apartment 393 48 2nd Floor – 2 Bed En-Suite Apartment 861 49 2nd Floor – 2 Bed En-Suite Apartment 843 50 3rd Floor – 2 Bed En-Suite Apartment 997 51 3rd Floor – 3 Bed En-Suite Apartment 1,070 52 3rd Floor – 2 Bed Apartment 802 53 3rd Floor – 2 Bed Apartment 800 54 3rd Floor – 2 Bed En-Suite Apartment 966 55 3rd Floor – 2 Bed En-Suite Apartment 861 56 3rd Floor – 2 Bed En-Suite Apartment 861 57 3rd Floor – 3 Bed En-Suite Apartment 1,070 SOLD 58 3rd Floor – 2 Bed En-Suite Apartment 997 59 3rd Floor – 2 Bed Apartment 800 60 3rd Floor – 1 Bed Deluxe Apartment 587 61 3rd Floor – 1 Bed Deluxe Apartment 599 62 3rd Floor – 2 Bed Apartment 786 SOLD 63 3rd Floor – 1 Bed Bespoke Apartment 998 SOLD 64 3rd Floor – 1 Bed Deluxe Apartment 599 SOLD 65 3rd Floor – 2 Bed En-Suite Apartment 843 Apartment Prices Floor plans Apartment Prices Summary of Charges Key Facts All Apartments are subject to additional charges that include: A weekly Service and Well-being Charge, annual Ground Rent and, on resale, a Building Reserve Fund contribution and administration fee Please refer to the Summary of Charges leaflet for full details. V8 / 26 02.24 9 SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD SOLD
Understanding the charges
Summary of Charges
Key Facts
Retirement living is inspired living at Jacobs Gate. In this welcoming community, you can set your own timetable and live life however you choose, free from everyday worries and compromises. With Adlington Retirement Living your well-being is our priority.
Service and Well-being Charge
All our homeowners contribute monthly to a Service and Well-being Charge to cover services such as:
• A table service restaurant* with on-site chef offering freshly prepared meals
• Communal cleaning, estate management and upkeep of the landscaped gardens
• External window cleaning, including all individual apartments
• Water usage and buildings insurance
• 24-hour on-site support everyday, 365 days a year, in case of emergency, with a discreet emergency call system installed in each apartment
Our on-site management team are always available to homeowners and check on their wellbeing, liaise with family and professional services as required. They also organise a full calendar of social events and activities.
2022/23
It is important to point out that payment of the Service and Well-being Charge has to continue even if the apartment is vacant, as it is proportioned between all apartments in order to maintain the high standard of service. The charge is subject to review/increases annually 1 April in relation to actual costs.
*Additional charges
Floor plans Apartment Prices Summary of Charges Key Facts
Service & Well-being Charge
Weekly
(*approximate price)
1 bed £146* 2 bed £153* 3 bed £160*
apply 10
Care charges
Additional care packages can be designed to suit your individual requirements. All care packages are drawn up in consultation with you, based upon a careful assessment of needs and regularly reviewed, including short term illness and recuperation packages. Costs are based on the level of need per person and will be provided in advance and charged at approximately £21.00 per hour.
Individual responsibilities
While your own household expenditure should reduce when you move to Jacobs Gate, it’s important to remember that you’ll still be responsible for:
• Council Tax
• Your apartment electricity usage
• Contents Insurance
• Telephone line rental and broadband (where applicable)
• TV licence (where applicable)
• Satellite television package (a communal satellite dish with connection points is provided in your apartment)
Ground Rent
Jacobs Gate offers extensive communal facilities which are at the heart of a thriving community. These include our Homeowners’ lounge, table service restaurant, coffee lounge, hairdressing salon, guest suite, staff rooms, management offices, and the mobility scooter and bicycle store, as well as landscaped gardens.
We charge an annual Ground Rent to recoup the considerable costs of investing in these extensive facilities.
The Ground Rent is due annually from 1st January and will be reviewed every year in line with the Retail Price Index.
Please see our Key Facts document for more detailed information on all charges.
Floor plans
Key
Apartment Prices Summary of Charges
Facts
1 bed £700 Annual ground rent fees 2 bed £1,000 3 bed £1,200
Packages Bespok e £21.00 Approximate per hour Per carer
Care
11
In addition, to give homeowners maximum flexibility, we have incorporated into our lease the option to buy out your Ground Rent at any time by giving the legal landlord written notice, and paying a fee of 40 x the annual Ground Rent at the time of the service of the notice, which will take effect from the 1st January the following year. For every year after that for the duration of the lease the rent will be “a peppercorn” (i.e. zero pounds).
If you wish to exercise this right upon your initial purchase, please let us and your solicitor know, and we can accommodate this from the outset for the cost of 40 x the initial Ground Rent set for your home (e.g. to buy out the Ground Rent at the outset for a one bedroom home would cost 40 x £700 = £28,000).
Building Reserve Fund
It is important that maintenance is kept to the highest standards for all to enjoy and to cover any major works, a fee of 0.25% of your sale price for each year, or part year, of occupation will be levied when you sell on your apartment.
The Building Reserve Fund will build up over time so that money is available to pay for capital costs as they occur, such as replacement lifts, restaurant kitchen equipment, the building roof and car park. This ensures the development is maintained to the same standard as when purchased.
As an example, based on a property value of £300,000 and over a 10 year period, the fund payable at that time will be £7,500.
Floor
Apartment
Summary of Charges Key Facts
plans
Prices
0114 553 9554 adlington.co.uk enquiries@adlington.co.uk Jacobs Gate, Troutbeck Road, Sheffield, S7 2AG Version No.5 / March 2022 Adlington Retirement Living is the trading name for Gladman Retirement Living Ltd, Adlington House, Alexandria Way, Congleton, Cheshire CW12 1LB. Registered in England and Wales No. 05107546. 12
Floor plans Apartment Prices
Key Facts
1. Property Details
Summary of Charges Key Facts
Landlord Gladman Retirement Living Ltd
Manager Adlington Management Services Ltd (AMS)
Address
Property Type
Status of units
Occupancy
Tenure
Jacobs Gate, Troutbeck Road, Sheffield, S7 2AG. Built in 2020.
65 Apartments:
• 16 x one bedroom, 41 x two bedrooms, 8 x three bedrooms
• Over 4 floors. Two lifts available
• NHBC 10-year guarantee applies from the first apartment sale
New
• 1 and 2 bedrooms: one or two people
• 3 bedrooms: up to three people
Leasehold 250 years from 1st January 2020
Care provider Serenta HomeCare Ltd, Unit 3, 134 Archer Road, Sheffield, S8 0JZ
Catering provider ABM Essence
2. Cost of moving into the property
Varies by individual apartment size and location (see price list)
• 1 bedroom: £114,950 - £337,950
Asking price
• 2 bedrooms: £242,950 - £359,750
• 3 bedrooms: £389,950 - £419,950
Reservation fee £1,500 payable on reservation
Other costs
There is no charge for the health needs assessment. Buyers are responsible for their own legal and removals costs and for Stamp Duty Land Tax.
3. Charges when selling the property
A contribution to the Building Reserve Fund is payable when an apartment is sold and via contributions through the Service and Wellbeing Charge. The amount payable is 0.25% of the sale price for each year or part year of occupation.
Building Reserve
Fund contribution
Administration fee
Ongoing charges
Repairs or redecoration
Other charges
For example: if a property that has been owned for 9 years and 7 months is sold for £300,000 the fee will be £7,500:
• Formula: Sale price x 0.25% x years or part-years owned
• Calculation: £300,000 x 0.25% = £750 x 10 years = £7,500
Minimum fee £360 (including VAT). Covers the landlord’s costs in checking the eligibility of the purchaser and facilitating the transfer of the lease.
The Service and Well-being Charge and Ground Rent remain payable until a property is sold.
Properties must be redecorated at least every 7 years. Vendors may need to undertake works at their own cost to assist a sale.
Vendors will need to pay their own removal and legal fees.
2 13
Floor plans
Apartment Prices Key Facts
Summary of Charges
4. Ongoing charges payable to Adlington while living in the community
• 1 bedroom: £169.00 per week *
• 2 bedrooms: £177.69 per week *
Service and Well-being Charge
• 3 bedrooms: £186.17 per week *
Subject to review/increases annually 1 April in relation to actual costs.
*Approximate price.
24/7 ‘On call’ support Included in the Service and Well-being Charge
• 1 bedroom: £700 per year
• 2 bedrooms: £1,000 per year
Ground Rent
• 3 bedrooms: £1,200 per year
Subject to review/increase annually 1 January in line with RPI
5. Discretionary charges payable to Adlington or other service providers
Serenta HomeCare charges:
Domiciliary (personal) care
Nursing care
Restaurant charges
Maintenance service
Cleaning service
Guest Suite
• From £18.36 per hour weekdays 7 am - 9 pm
• From £18.36 per hour weeknights 9 pm - 7 am
• From £19.68 per hour weekends
Nursing care is not provided.
ABM Essence charges:
• Monday to Saturday: 2 course £5.95 | 3 course £6.95
• Sunday Lunch: 2 course £6.75 | 3 course £8.00
Small jobs and repairs in apartments arranged through AMS: £15.00 per hour. Homeowners can use other maintenance providers.
Apartment cleaning arranged through AMS: £15.00 per hour. Homeowners can use other cleaning providers
Available to the guests of homeowners. Includes breakfast:
• 1 person: £50 per night
• 2 – 4 persons: £60 per night
6. Ongoing charges payable to third parties
Electricity
Council tax
TV licence
Internet and telephone
Homeowners arrange their own electricity supply contract.
Council tax bands and 2023/24 charges:
• 1 bedroom: Band C - £1,825.63
• 2 bedrooms: Band D - £2,053.83
• 3 bedrooms: Band E - £2,510.23
Homeowners pay for their own licences and claim any discounts. See www.tvlicensing.co.uk
Wi-Fi is available in the communal areas only. Homeowners arrange their own broadband and telephone service contracts.
Satellite, cable TV Communal satellite dish. Homeowners arrange their own contracts.
3
14
7. Insurance arrangements
Responsibility of the operator
Responsibility of the owner
Communal Buildings Insurance, Public Liability and Employer’s liability are included within the Service and Well-being Charge.
Home contents insurance is recommended. Homeowners choose their own provider.
8. Other information
Building Reserve Fund
The fund will grow as contributions are received on future resales of properties and annually via the Service and Well-being Charge.
Subletting Subletting is permitted. Refer to the lease.
Restrictions on selling the property
At least one occupier in each apartment must be 65 or over. Properties can be purchased by younger people on behalf of qualifying occupiers. Homeowners must undergo a health assessment prior to purchase. Homeowners are entirely responsible for managing property resales.
Please note: Charges stated are correct at the date shown but may change annually or at other intervals over the period of residence.
We encourage you to discuss your housing options with your family and friends, and to seek independent advice, support and representation as appropriate, in connection with a move to a retirement community.
Information for homeowners - the Service and Well-being Charge
The following questions and answers are intended to help explain how Adlington Management Services Ltd (AMS) manage the Service and Well-being Charge.
What services does the charge cover?
The budget headings for the Service and Well-being Charge are:
• Well-being staff costs and professional catering: Well-being Duty Managers who provide cover 24 hours a day, 365 days a year and the catering service
• Staff Costs : General Manager, Maintenance Person and team uniforms
• Management Fees: Managing the development and services on behalf of the landlord (administration, human resources, legal, procurement, etc)
• External professional fees: Accountancy costs for reviewing the accounts
• Risk Assessments: Staff health and safety training and ensuring that all risk assessments are compliant
• Office Costs: Stationery, fibre-optic broadband and IT security
• Window Cleaning: External windows and gutters throughout and internal windows in the communal areas only
Floor
Key Facts
plans Apartment Prices Summary of Charges
4
15
• Waste Management: Removing waste and controlling pests
• Internal Cleaning: Communal areas only, including the housekeepers and cleaning products
• External Landscaping: Grounds maintenance services
• Maintenance Contracts: Maintaining and servicing external doors, the emergency call system, all fire safety equipment and lightning protection
• Lift Maintenance Contract: Maintenance, including parts and servicing
• Internal repairs and maintenance: Day to day work in the communal areas only
Is the Service and Well-being Charge ‘fixed’ or ‘variable’?
The charge is ‘variable: It changes each year according to actual costs only.
When does the Service and Well-being Charge change and what advance notice is provided?
The charge changes on 1 April every year. Homeowners receive at least one month’s notice of the new charge.
How would any significant failure to provide a service be managed?
Any service interruptions would be managed to minimise disruption. If alternative arrangements could not be made, a refund would be due at the end of the year.
Is any of the Service and Well-being Charge payable before moving into the property?
The Service and Well-being Charge is payable in advance for the month ahead.
• Lifestyle Events: Fund to facilitate activities of the homeowners choosing
• Insurance: Covers the building, communal contents and the staff working in it
• Water and sewerage costs: Providing these services for individual apartments as well as for the communal areas
• Communal electricity: The electricity used in all of the communal areas
• Building Reserve Fund Contribution: Building repairs and redecoration
Is the Service and Well-being Charge held in trust?
The Service and Well-being Charge funds are held in a separate trust fund account for the benefit of homeowners and cannot be used for any other purposes.
Is the latest itemised charge budget and/or set of accounts available?
The latest Service and Well-being Charge budget is detailed on page 6.
When are homeowners informed about the Service and Well-being Charge budget and/or accounts?
In January, homeowners receive a proposed annual budget from 1 April. In September, they receive independently audited accounts for the year to 31 March.
plans
Summary of Charges Key Facts 5
Floor
Apartment Prices
16
Can homeowners influence the charge and the services offered?
Homeowners and the Residents’ Association (if there is one) are consulted on budgets and the long-term maintenance programme, in a budget review meeting in January each year. Any commitments or budget changes made are confirmed in writing.
How is any annual surplus or deficit on the charge account managed?
The accounts are independently reviewed annually and will be available to be reviewed by homeowners by 30th Sept. Any significant variations between the current level of expenditure and the budget for the year are explained and discussed with homeowners. Any surplus will be refunded to homeowners and any deficit will be recharged to homeowners.
Floor plans Apartment Prices Summary of Charges Key Facts Service and Well-being Charge - Budget 1st April 2023 to 31st March 2024 Income £ Service and Well-being Charge 596,898 Guest Suite Income 3,000 Total Income 599,898 Expenditure Well-being staff costs & professional catering 283,161 Staff Costs 59,381 Management Fees 45,500 External accountancy fees 750 Health & Safety 1,500 Office Costs 13,776 Window Cleaning 5,985 Waste Management 2,533 Internal Cleaning - Communal areas 22,310 External Landscaping 8,744 Maintenance Contracts 22,909 Lift Maintenance Contract 4,536 Internal repairs and maintenance 6,864 Building & Communal Contents Insurance 34,824 Water and sewerage costs- including apartments 13,000 Communal electricity 60,000 Covid 0 Lifestyle Events 5,000 Building Reserve Fund Contribution 8,125 Sundries 500 Bank charges 500 Total Expenditure 599,898 Number of apartments 65 1 Bedroom 2 Bedroom 3 Bedroom Percentage 1.4723 1.548 1.6219 Approximate Weekly Charge £169.00 £177.69 £186.17 Approximate Monthly Charge £732.34 £770.00 £806.76 6
17
Information for homeowners - the Building Reserve Fund
The following question and answers are intended to help explain how Adlington Management Services Ltd (AMS) manage the Building Reserve Fund.
What is the Building Reserve Fund?
The Fund is used to offset the cost of major repairs, replacements and improvements within the development. This includes works to lifts, roofs, windows, doors, driveways, paths, rainwater goods, and fencing, and major redecoration costs.
How is the Building Reserve Fund funded?
Contributions are collected when an apartment is sold. The amount payable is 0.25% of the sale price for each year or part year of occupation.
For example: if a property that has been owned for 9 years and 7 months is sold for £300,000 the fee will be £7,500:
• Formula: Sale price x 0.25% x years or part-years owned
• Calculation: £300,000 x 0.25% = £750 x 10 years = £7,500
Included within your Service and Wellbeing Charge is an amount transferred to the Building Reserve Fund.
Additional contributions may also be collected through the Service and Well-being Charge. This might happen for example if the costs of some repair work could not be met entirely from the Building Reserve Fund.
The Fund will grow as contributions are received from future resales and via the Service and Well-being Charge.
What processes are in place to assess future capital expenditure needs?
We carry out regular inspections of the development to determine future capital investment needs. A rolling capital investment program is in place to ensure that the development is safe and maintained in good condition.
What additional financial liabilities may fall on homeowners if the fund is unable to cover the full costs of major capital works?
If there is any unforeseen need for capital investment and it cannot be met from the Reserve Funds, we would have to recover these by additional contributions, paid in advance, from homeowners. This would be fully explained during consultation with all homeowners, should the need arise.
Is the fun d held in trust?
Reserve Funds are held in a separate trust fund account for the benefit of homeowners.
7
Floor plans Apartment Prices Summary of Charges Key Facts Your life. Your way. Every day. At Jacobs Gate. Click here to see the Brochure 18
