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.
Key features
- 8,010 sqft of communal gardens on the 24th floor
- State-of-the-art gymnasium, sauna and steam room
- 2,034 sqft children’s play area
- 24-hour concierge
- Four floors of Grade A office space
- Retail to include shops and restaurants
- Stunning views of London
Property description
DAMAC Tower will present a unique landmark on the London skyline with its bespoke façade and staggered floor arrangement. The towering 50-storey building will comprise light coloured stone, utilising glass reinforced concrete (GRC), and feature floor-to-ceiling picture windows, ceramic tiled panels and warm terracotta, along with 'winter gardens' that open doors from every apartment to exquisite panoramic views of London. The double height entrance lobby will be complemented by a residential forecourt, beautifully landscaped using high quality materials, with spacious retail units facing onto the forecourt. Boutique office space will feature in the south tower. Residences will be available in studio, one, two and three bedroom arrangements in addition to a small number of exclusive penthouse suites. The arrangement of the winter gardens attached to every apartment will be such that there is complete continuity between the glamorous interiors and the great outdoors. A range of luxury amenities will be available to residents, including expansive roof gardens overlooking London. Most unusually, the state-of-the-art gymnasium, swimming pool and Jacuzzi, will be uniquely set on the 23rd floor of the north tower, and flooded with natural daylight as well as boast inspiring vistas of the surrounding neighbourhood.
Description - DAMAC Tower will present a unique landmark on the London skyline with its bespoke façade and staggered floor arrangement. The towering 50-storey building will comprise light coloured stone, utilising glass reinforced concrete (GRC), and feature floor-to-ceiling picture windows, ceramic tiled panels and warm terracotta, along with ?winter gardens? that open doors from every apartment to exquisite panoramic views of London. The double height entrance lobby will be complemented by a residential forecourt, beautifully landscaped using high quality materials, with spacious retail units facing onto the forecourt. Boutique office space will feature in the south tower. Residences will be available in studio, one, two and three bedroom arrangements in addition to a small number of exclusive penthouse suites. The arrangement of the winter gardens attached to every apartment will be such that there is complete continuity between the glamorous interiors and the great outdoors. A range of luxury amenities will be available to residents, including expansive roof gardens overlooking London. Most unusually, the state-of-the-art gymnasium, swimming pool, and Jacuzzi will be uniquely set on the 23rd floor of the north tower and flooded with natural daylight as well as boast inspiring vistas of the surrounding neighborhood.
No reviews found