020 8549 5099
315 Richmond Road,
Surrey. KT2 5QU
VAT Number : 217221404
2 DOUBLE BEDROOM DUPLEX FLAT nearly 700 sq ft over the 1st & 2nd floors. Car park + private BICYCLE STORE LOCKER at ground level.
A competitively priced TWO DOUBLE BEDROOM DUPLEX FLAT nearly 700 sq ft with generous accommodation arranged over the 1st and 2nd floors.
The property provides ample off street parking in a car park and the property also includes a private BICYCLE STORE LOCKER at ground level.
Entrance floor of hall, kitchen and bright lounge/dining room.
Upper floor of 2 double bedrooms each with varnished floorboards and a bathroom with white suite.
The second bedroom also benefits from an additional WALK IN WARDROBE 1.60m x 1.39m
Double glazed windows : Entry phone system : Modern Ariston hot water store.
The property is within close reach of sought after Ofsted 'Outstanding' Grey Court School and a nearby choice of primary schools and nurseries. There are two parades of local shops nearby including a Tesco Express, German bakery and delicatessen, pharmacy, takeaways and a Post Office. Buses to central Richmond and Kingston and their stations are available at the end of the Close.
With entryphone & front door through to .....
COMMUNAL ENTRANCE :
With stairs to 1st floor landing and entrance door into flat.
Wall mounted entry phone handset, laminate floor, dimplex heater, wall light fitments, coatrack, understair storage space.
LOUNGE/DINER: Abt 14'5 max x 13'2 (4.39m max x 4.02m)
Double glazed window, laminate floor, dimplex heater, door to understairs storage cupboard.
KITCHEN: Abt 9' x 7'1 minimum (2.75m x 2.17m minimum)
Double glazed window, door to shelved cupboard with hatch through to lounge/diner, worktops, tiled splashbacks, inset sink unit, spaces for cooker, fridge and washing machine, door to airing cupboard with Ariston hot water store.
STAIRCASE TO SECOND FLOOR LANDING:
BEDROOM ONE: Abt 13'4 x 9'1 min (4.06m x 2.76m min)
Double glazed window, varnished floorboards, dimplex heater, door to cupboard with hanging and shelving.
BEDROOM TWO: Abt 13'3 max x 8'8 max (4.05m max x 2.65m max)
Double glazed window, varnished floorboards, dimplex heater, door into
WALK IN WARDOBE : Abt 5'3'' x 4'7'' (1.60m x 1.39m)
Handing rails to each side.
Frosted double glazed window, pedestal wash hand basin with tile splashback, panel enclosed bath with shower rail and curtain..
COMMUNAL CAR PARK
STORAGE/BICYCLE LOCKER (1 for each flat)
GROUND RENT: £10.00 P.A.
LEASE: 125 years from 1st November 1982
NOTES ON POTENTIAL REDEVELOPMENT OF HAM CLOSE.
Prospective purchasers are advised that Ham Close has been identified as a potential regeneration project as part of Richmond Council's Uplift Programme. This intends to deliver physical, social and economic improvements to local areas. Richmond Housing Partnership (RHP) is the freeholder of the 192 flats at Ham Close and together with the Council they own much of the land in the area. The proposed timeline on a potential redevelopment is to go to planning in 2018. If full redevelopment goes ahead, the new homes will comply with the design standards that apply to housing in London, and all new homes will have private gardens or balconies. The London Housing Design Guide states a minimum of 5 sq m of private outdoor space should be provided for 1-2 person dwellings and an extra 1 sq m should be provided for each additional occupant.
Should redevelopment go ahead, RHP have set out their offer to Ham Close homeowners thus -
If you are a homeowner you will be able to remain in Ham Close and will be offered a new home.
How much will I get for my existing home? To move forward with the redevelopment proposals, we'll first need to establish market-value for your existing home. This is carried out as the construction site evolves and is done through a Royal Institute of Chartered Surveyor (RICS) valuation.
What if I don't agree with your valuation? If you don't agree with our valuation we'll pay the cost of your nominated surveyor to carry out a further valuation. The surveyor must be a member of RICS. They will agree the market value of your home.
Will I be entitled to compensation? In addition to the market value, we'll also pay a home-loss payment. This payment is as follows: Owner occupiers will receive a payment equivalent to 10% of market value (with a minimum of £5,800 up to a maximum of £58,000 as of October 2016). To be entitled to a statutory home-loss payment, you must have lived in your home as your only or main residence for at least one year before the date of having to move. We've drawn up an example of how this would work below.
Example 1: Owner Occupier Home is valued at £300,000 Plus 10% home-loss payment £30,000 Total amount £330,000. This is the equivalent amount as payable with Compulsory Purchase Order.
Will I get a new lease? Yes. All new homes would have a 125 year lease at no additional cost.
Will I be entitled to help with the cost of moving? As a Homeowner you're also entitled to a disturbance payment, which pays for other reasonable costs when moving home. These include removals and other costs such as redirecting post, disconnecting and reconnecting appliances and new carpets and curtains. It can also include solicitors and surveyors fees and Stamp Duty Land Tax for a replacement home. An agreement will be reached between yourself and RHP on the amount of disturbance payment made. Payment will be made after receiving the relevant receipts.
What happens if my new home is worth more than my current one? As part of our commitment to offer everyone the opportunity to remain in their community we'll offer a Shared Equity scheme for a new flat on a like-for-like basis i.e. the same number of bedrooms as your current home. The current market value of your home will be converted into a percentage of your new home. This means that if you're a current homeowner of a one bedroom home currently worth £300,000, we'll offer you a new one bedroom home. This new home may be worth £400,000. You would own 82.5% of the new home and RHP will own 17.5%. You would not be expected to pay rent or interest on RHP's share. You would be expected to put in your home-loss payment (10% of market value) towards the equity share you purchase.
Example 2: Current home value: £300,000 Plus home-loss of 10%: £30,000 Your total contribution: £330,000 New home value: £400,000 Your contribution from previous home + home-loss (£330,000) = 82.5% (your share of the equity) The remaining £70,000 = 17.5% (RHP's share of the equity) There will be no rent payable on RHP's Shared Equity element.
What if I want to purchase a bigger share? If you're an owner occupier you can purchase the remaining equity at the time of the regeneration project or later if your circumstances allow.
Example 3: If Current Home value = £300,000 Current outstanding mortgage =£100,000 Your equity = £200,000 Current value of your home = £300,000 If New Home = £400,000 You will contribute: £200,000 equity from your current home. £30,000 home loss payment (10% of £300,000). £25,000 mortgage (if this is the new maximum borrowing capacity) Total contribution from home owner = £255,000 Your shared equity = 63.75% RHP's equity share = £145,000 Shared Equity from RHP = 36.25% There will be no rent payable on the Shared Equity element.
What if I can't arrange a new mortgage that matches my existing one? We understand that some homeowners will find it difficult to obtain a new mortgage, even for their current amount, due to a change in their financial circumstances and the new stricter lending requirements. To help in these situations, we can help you in one of the following ways:
i. A lower equity share. We will offer you a reduced share of equity equivalent to your maximum financial capacity of: Existing equity, plus achievable mortgage, plus home-loss payment. We've drawn up some examples below of how this could work:
ii. Buy your home from you and offer a new affordable rent tenancy. In the event that you cannot afford to live in a lower shared equity home we could offer to buy your existing home and offer a new home that is let at affordable rent levels.
What if I want to buy a bigger home? You can buy a bigger home at full market value.
The RPH offer for Non-Resident Homeowners ie- who own an RHP property but do not live there and rent it out to their own tenants is as follows.
Will I be entitled to compensation? If you're a non-resident landlord, you're entitled to a home-loss payment. Current regulations state this to be 7.5% of market value. RHP will increase this to 10%. We've drawn up an example of how this would work below:
Will I be offered a new home? Current regulations state that non-resident homeowners can buy a new home at full market value. RHP have decided to also offer a shared equity arrangement on a like for like basis (see example).
Example 5: Current home value: £300,000 Plus home-loss of 10%: £30,000 Your total contribution: £330,000 New home value: £400,000 Your contribution from previous home + home-loss (£330,000) = 82.5% (your share of the equity) The remaining £70,000 = 17.5% (RHP's share of the equity) There will be no rent payable on RHP's Shared Equity element. Homeloss payment £30k Value of your current home £300k Total value £330k The value of the new home that will belong to you £330k (82.5%) Homeloss payment £30k RHP's equity £70k (17.5%) Value of your current home £300k Total value of your new home £400k
What should I do about my tenants? If you let out your property or have anyone else living in it, you'll be responsible for serving any tenancy or any other legal notices to make the property available for redevelopment. RHP has no responsibility to re-house or compensate people living in existing homes belonging to a non-resident homeowner. Your tenants can contact London Borough of Richmond for advice on re-housing. If you'd like to know more about this offer or have any questions please contact firstname.lastname@example.org.
These particulars are provided as a general outline only for the guidance of intending buyers and do not constitute, or form any part of, an offer or contract.
All descriptions, measurements, implications as to usage, references explicit or implied as to condition and permissions for use and occupation, are given in good faith, but prospective buyers must not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
Stated dimensions should not be relied upon for fitting floor coverings, appliances or furniture.
None of the services, fittings, appliances, or heating or hot water installations (if any), have been inspected or tested by Mervyn Smith & Co and no warranty can be given as to their working condition.
We have been advised by the vendor regarding the outgoings but we have not inspected any accounts and we do not know their terms and conditions. Prospective buyers and their legal advisers will have to establish the exact rights and obligations prior to any legal commitment to purchase.