Management of Maybury Court
- Management
- Leasehold and freehold
- Lease extensions
- Financial information
- Documents and links
AGM 2009
The 2009 AGM was held on Thursday 29th October at the Hellenic Centre, 16-18 Paddington Street. (http://www.helleniccentre.org/location.htm)
Information
about the management of Maybury Court
This is a summary. You can find full details
in the pdf file written by Alistair Barr: Information
about the management of Maybury Court
Management
structure
In contrast to most leasehold flats, it is the
leaseholders, through the management company (Maybury Court (Marylebone) who control the management of the block, rather than the freeholder. A
managing agent, currently Jeremy James & Co, is appointed to carry
out the day-to-day management. Jeremy James & Co are located just
round the corner in New Cavendish Street and can contacted on 0207 486
4111 or via email jjandco@jeremy-james.co.uk ).
The management
company
There are currently four elected directors, Alistair Barr, Melanie Goody, Jennifer Kidd
and Paul Toms.
Pdf files of the Minutes of previous AGM's are available. Request Pdf file.
Maybury Articles of Association - pdf file
Maybury Memorandum of Association - pdf file
Rights and responsibilities
of leaseholders
These are set out in your lease (link to copy of lease). Free advice about
your rights and responsibilities as a leaseholder can be obtained from
the Lease Advisory service which has a good website Lease
Advisory Service
Service charges
Service charges fall due on 25 March and 29 September. The service charge
and major works sinking fund are levied in two equal installments while
ground rent and buildings insurance are payable in a single installment
in March. For 2008/09 the service charge is £1,100 per annum, the
major works levy is £1,100 per annum, ground rent is £100
per annum and the buildings insurance is £532.88 per annum. Note
that interest is charged if service charge is not paid by the due date.
For more details on charges etc. see Alistair's
full document.
Leaseholders are sent an audited set of accounts in advance of the AGM
(see link to 2006/7 accounts).
Leasehold
and Freehold
The leases of the flats in Maybury Court expire on 14 March 2062 at which
point the flats revert to the freeholder, currently the Howard De Walden
Estate. In January 2004 a group of leaseholders led by Alistair Barr initiated
the process of exercising our statutory right to buy the freehold from
the Howard De Walden Estate. Alistair provides the owners of the
participating flats with regular email updates on progress.
For more information on the freehold go to the freehold
page or for up to date information contact Alistair
Barr.
For information about how the resulting freehold purchase will affect
the management of the block see Information
about the management of Maybury Court document.
Lease extensions
The non-participating flats retain their statutory right to purchase a
90-year lease extension (subject to a two year ownership qualification)
from the new freeholder.
For more information on the process of buying a 90-year lease extension
see the website of the Lease
Advisory Service
The Lease Advisory Service provides free advice including free indicative valuations. To get a free valuation you need to provide information about your lease at Maybury Court
Underlease expires: 14 March 2062
Headlease expires: 24 March 2062
Ground rent: £100 per annum rising to £200 in March 2017, to £400 in March 2032 and to £800 in March 2047
Valuation date:
Current lease value: You can use the price of recently sold flats as a guide. These can be looked up on a number of property web sites, though it takes a few months for the sales information to get onto Land Registry and this linked site where you should paste into the dialogue box (including commas) the following text: Maybury, Marylebone Street, London
Relativity: The LVT used a relativity of 81.37% in 2004 decision on Maybury Court
Capitalisation rate: (Rate at which ground rent is capitalised) 7% (as set in the 2004 Maybury Court LVT)
Deferment rate: 5% (as set in the Landmark Sportelli case)
2004 LVT decision on Maybury Court
Financial Information
Directors' report and financial statements
Year ending 2007(pdf file)
Year ending 2006 (pdf file)
Year ending 2005 (pdf file)
Year ending 2004 (pdf file)Income and expenditure spreadsheets
2005 (pdf file)
2004 file content to be addedCouncil tax
The flats in Maybury Court are in Band G. Charge for the year 2008/09 is £1146.03. Link to Council tax informationWater rates
Water bills are based on the rateable values of your flat and not the amount of water that you use. As a rough guide the water rates for a two bedroom flat are £386.97 for 2008/09. Water meters
Insurance
Buildings Insurance policy
List of downloadable documents (also listed under relevant management tab)
Information about the management of Maybury Court (pdf file)
Maybury Articles of Association - pdf file
Maybury Memorandum of Association - pdf file
2004 LVT decision on Maybury Court
Directors' report and financial statements
Year ending 2007(pdf file)
Year ending 2006 (pdf file)
Year ending 2005 (pdf file)
Year ending 2004 (pdf file)
External Links: (also listed under relevant management tab)