Unusually long leaseholds at Crest Nicholson’s acclaimed Bath Riverside development are providing unique terms for buyers at the prestigious development.
Like the majority of flats across the country, the smart new apartments at Bath Riverside are being offered on a leasehold basis - but whereas most leaseholds are in the 99-125 year bracket, the Crest Nicholson apartments are being offered on a 999 year term.
Crest Nicholson sales and marketing director Susan Young said the decision to offer the unusually extended lease reflected the company’s commitment to provide buyers the best possible deal when buying a new property at the riverside development
She said: “A 999 year lease on a flat is almost as good as freehold. The small print in the contract doesn’t always factor in the prospective purchaser’s decision to buy but this is one clause that we feel it’s worth shouting about.
“Bath Riverside is transforming the city’s western riverfront into a modern residential quarter - and will benefit all residents for many years to come.
“We have been working on the development for nearly seven years already and it will be another 10 years until this vital scheme is completed.
“We are passionate about this city and ensuring that the plans we put forward in years to come reflect the needs of the city as well as pre-empt the demands that will be placed upon it in the future.”
Apartments are generally sold on a leasehold basis as developers take into account the future management and funding of the building itself.
Susan added: “Generally speaking everyone who owns part of the main building understands and expects to contribute to its up-keep.”
Bath Riverside is a stylish collection of apartments located in the heart of Bath with Royal Victoria Park, Queen Square and the city’s vibrant mix of shops and restaurants within a short walking distance.
The development offers high quality studio, one, two, three-bedroom apartments and penthouses – all on the unique 999 year lease.
The biggest residential development to happen in Bath for decades, the development is set on the banks of the River Avon.
Close proximity to Bath city-centre means Bath Riverside is ideal for those who either work in the city centre or need to catch a train. The pedestrian towpath gives residents a direct and car-free route into the heart of the city in a matter of minutes.
For further information on the development please call 0845 8945 888 or visit www.bathriverside.co.uk. The marketing suite on Victoria Bridge Road is open daily from 10 am to 5pm.