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Permalink Reply by Iain Meek on October 28, 2015 at 11:55

Not exactly what you are looking for?

  http://www.theguardian.com/artanddesign/2015/sep/13/who-lives-moder...

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Permalink Reply by Alan Line on October 28, 2015 at 23:48

Hi Georgina - frankly you would be extremely foolish to purchase on Golden Lane given the accumulated maintenance deficit on a 55 year old estate. The £3500 a year service charge is just for cleaning and immediate repairs - as an example of long term maintenance charges, leaseholders in Great Arthur House are currently facing an additional £50,000 plus next year to bring the flats to minimum decent housing standards (thermal efficiency). Any visit to the Estate will reveal widespread issues of crumbling concrete, exposed and rusting steel reinforcement bars, not to mention the recent collapse of cladding at Stanley Cohen and electrical fires in Crescent House. It will not be to long before leaseholders face a catastrophic collapse in lease values because of the "overhang" of accumulated repair expenses - council tenants are already refusing to move here on an exchange basis because the Estate is so rundown.

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Permalink Reply by Nick Sharp on November 3, 2015 at 15:23

Hi Georgina, 

You'll see various ups and downs of living on the estate on this forum!  There are definitely additional capital costs coming down the line for all leaseholders - from £5-50,000 depending on which building you are in.  You can get an estimate from your sellers' solicitors.  Broadly, if you like the flat and the estate (and I think it is a lovely place to live, despite the COL's neglect) then simply price those costs into your offer on the flat - so take the amount expected (plus some...) from the price. 

It's going to be an expensive few years, but if you budget effectively it needn't be a deterrent. [Assuming the City stick somewhere close to their estimates on the capital works...]  That said, if you are after complete certainty, GLE might not be the place for you. 

Do give me a shout if you want to discuss - I've recently moved here (and am v happy so far!).

Cheers

Nick

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Permalink Reply by Nick Sharp on November 3, 2015 at 15:24

Hi Georgina, 

You'll see various ups and downs of living on the estate on this forum!  There are definitely some substantial additional capital costs coming down the line for all leaseholders - from £5-50,000 depending on which building you are in.  You can get an estimate from your sellers' solicitors.  Broadly, if you like the flat and the estate (and I think it is a lovely place to live, despite the COL's neglect) then simply price those costs into your offer on the flat - so take the amount expected (plus some...) from the price. 

It's going to be an expensive few years, but if you budget effectively it needn't be a deterrent. [Assuming the City stick somewhere close to their estimates on the capital works...]  That said, if you are after complete certainty, GLE might not be the place for you. 

Do give me a shout if you want to discuss - I've recently moved here (and am v happy so far!).

Cheers

Nick

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