Bishops Avenue - All you need to know - Flipbook - Page 20
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− Under Option 3, the Membership Fee is set 50% lower than Option 1 for each
apartment type. For example, the Membership Fee for a 2 bed apartment would
be £1,107.50, compared to £2,215.00 under Option 1. We refer to this as the “HalfPrice” Membership Fee option. This option is also fixed “for life” and will not increase
annually in line with inflation.
Where completion on the Purchase takes place in any subsequent calendar year(s)
after the date of reservation, the Membership Fee is increased in line with index-linked
inflation (with a cap of 4% on any increase each year) on the 1st of January of each
year to calculate the starting Membership Fee on completion.
On resale, we rebase the Membership Fee for the next buyer in line with inflation over
your period of ownership.
References to “in line with inflation” means an increase based upon the previous
September’s Consumer Price Index or Average Weekly Earnings Index % figures,
whichever is the highest. These are two consumer indices published monthly by the UK
Government’s Office of National Statistics, which track inflation in the United Kingdom.
If we want to change or add to the services for an additional cost, we will allow residents
to vote on the proposal first. We will only increase the Membership Fee if more than 50%
of residents vote in favour. This applies to all Membership Fee options.
What is included in the Membership Fee?
The Membership Fee covers the staffing, management and upkeep of the building and
the cost of utilities and services in the common areas.
The following services are covered by the Membership Fee:
Concierge services & Riverstone Club
• 24-hour concierge service including valet parking, managing visitor access, handling
deliveries, providing an emergency call response service and helping residents with
making bookings and reservations
• Access to basic IT support services
• A regular shuttle, Monday to Friday during daytime hours for local drop-offs to public
transport links, local shops, or other nearby places of interest
