Property Tenure

Tenure

  • Properties at The Red House are held on 150-year reducing leases from 22 August 2018 from ERL (Red House Ripon) Limited, Scutches Barn, 17 High Street, Whittlesford, Cambridge, CB22 4LT; Registered in England & Wales, No. 10488787.
  • Ground rent of £500 per annum initially is payable to ERL (Red House Ripon) Limited. This will be reviewed every five years from the start of the lease (see above) based on the Consumer Price Index.

Annual Service Charge (2018)

  • 1 bedroom property £6,780 (£565.00 per month, or approximately £130.38 per week).
  • 2 bedroom property £7,152 (£596.00 per month, or approximately £137.54 per week).

Click below for more information about the service charge.

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Event Fees

Deferred Development Payment

A Deferred Development Payment is payable to the ERL (Red House Ripon) Limited when the property is sold or the lease is re-assigned, based upon a percentage of the open market value of the lease at the time of the transaction. Further information can be found below.

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Sales Administration Fee

A Sales Administration Fee of 1.8% (including VAT at 20%) of the achieved sales price is payable to ERL (Red House Ripon) Limited on any re-sale of the property. Further information can be found below.

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If you have any queries on any of the above please call the Sales Team on 01765 647312 or email: sales@redhouseripon.co.uk