Bencurtis Park Bungalows
There are 65 bungalows built in the grounds of Bencurtis Park, sold with a sixty year reversionary lease. The bungalows vary in both age and design either having one or two bedrooms. Each bungalow has either a small rear private garden or patio and there is communal parking. A quarterly management charge is made to cover the cost of external maintenance, insurance, upkeep of the grounds and communal areas and the warden service and call system.
When the bungalow becomes available for re-sale, an independent market valuation of the remaining years on the lease is obtained and the Association will seek a suitable purchaser from its waiting list. The Association charges a fee of 7.5% which is deducted from the proceeds of the sale. A new 60 year reversionary lease is then granted to the new leaseholder.
In 2016/17 new 60 year leases were granted for between £320,000 and £340,000