Tenure
Knowing the tenure of the property is important because it affects your rights to use the property and the costs of ownership.
Freehold means you’ll own the property and the land it's built on. You'll usually be responsible for the maintenance of the property and have more freedom to alter it.
For flats and maisonettes, the freehold is sometimes shared with other properties in the same building. This is known as a share of freehold.
Leasehold means you'll have the right to live in the home for a set amount of years (specified in the lease). The landlord (the freeholder) owns the land, and if the lease runs out, ownership of the property will go back to them. Lease lengths that are less than 80 years tend to be more complicated and can cause issues with mortgage lenders.
You can extend a lease but this can be expensive. If you'd like to make changes to the property, you'll likely need the landlord’s permission. You're also likely to have to pay an annual amount for ground rent and services charges which can be subject to change. It is good practice to check additional leasehold costs that will apply to the property and factor this into your budget considerations.
Shared ownership is a form of leasehold in which you buy a percentage of the property and pay rent on the share you do not own. You may be able to buy the remaining share at an extra cost. When you wish to sell the property, you may need permission to do so.
Commonhold is a type of freehold ownership for a property that's within a development. A commonhold or residents’ association owns and manages the common parts of the property (like stairs and hallways). You'll need to join the commonhold association and contribute towards maintaining the development. It is good practice to check additional costs that will apply to the property and factor this into your budget considerations.
- Allocated parking
Key features
- 5* amenities
- Swimming pool, yoga studio and fitness suites
- Cinema room and karaoke lounge
- Central location next to Deansgate station
- 24/7 concierge
- BBQ area
Property description
This stunning 40 storey Tower situated just off Deansgate boasts 327 stunning high end luxury apartments that give tenants an outstanding quality of living. With luxurious 5* amenities including a state of the art Gymnasium, Swimming pool, Cinema room, BBQ and relax area, 24/7 concierge service
Every part of this development has been created with residents at the heart of it all. The apartments hold an enormous amount of space, this is exaggerated by the expansive windows and high ceilings. The neutral tones are complimented beautifully with the flourish of natural light.
Key features
* Zero Ground rent
* 5* amenities
* Experienced Management Company
* Luxury Gymnasium
* Hands off investment
* High Ceilings
* High rental returns
* Off plan
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