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What are maintenance charges like for appartments on the Quayside?

Wondering how much we need to take into account when figuring potential ROI for appartments on the Quayside eg 2 bed in St Annes or similar -something offering parking but not fitness facilities or anything very upmarket. Also, are these costs the reason people are selling- ie charges increasing significantly since appartments were built.

Asked on Feb 22 2014, General in Newcastle upon Tyne | Report content

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  • Hi, I would recommend speaking to an agent who is selling properties in the Quayside area, they should be able to provide maintenance charge details. Kind regards Your Move Chris Stonock

    Answered on Mar 3 2014, Report content
  • Maintenance charges vary dramatically between different blocks depending on a huge number of factors and who is responsible for overseeing the day to day management. A block like St. Ann’s will have a fairly high service charge as it has multiple lifts, concierge service etc. Each flat will contribute a percentage towards the annual charge; this percentage will be stipulated in the lease. It’s absolutely essential that you research each block individually prior to purchase because, as a leaseholder, you will have little ability to control the service charge costs or additional costs caused by things like major works that will happen in the future.

    Web reference: http://www.heatonproperty.com/bmdblog/

    Answered on Mar 16 2014, Report content

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