All premises at Perseverance Works attract service charges and ground rent. The charges are apportioned as a percentage of the total and are based on a square footage calculation. The percentage charged is defined in the head lease of each property. Each property will attract a general and/or specific charge and the amounts collected pay for security, refuse collection, site management, accountancy, book keeping, lighting and the cleaning of communal areas etc.
These amounts are payable in advance on estimate, with a reconciliation account being prepared at the end of the year. This often takes six months to complete and people buying or selling their property should allow for this process in their conveyancing arrangements.
Please note: unless services charges/repairs are up to date at the time of sale, the Board and Company Secretary will not issue share certificates or note assignment interests on leases.
The directors of PWFL reserve the right to alter the service charges as operating requirements dictate.
For more information about book keeping at PWFL, please click here.