Frequently Asked Questions

The comments provided in this document are intended to give an overview of selected topics which, in the experience of Retirement Villages, have been raised by prospective purchasers at Gradwell Park and more generally at other villages within the Retirement Villages wider estate.  Whilst the intention of the document is to provide clarification in respect of the topics covered, the terms of any legal documents to which prospective residents will be required to commit, as a condition of purchasing a property at Gradwell Park and residing there, will in every instance take precedence over any comment made in this Frequently Asked Questions document.

Last Updated: June 2020

1. What is the Deferred Management Fee?

The Deferred Management Fee or DMF is your contribution to the refurbishment and management of the retirement village. The deferred management fee is a one-off cost which isn’t payable until you leave your retirement village home – helping you offset the cost of retirement living by reducing the monthly fees and expenditure required to maintain the high standard of the Village.

2. How much is the Deferred Management Fee?

Retirement Villages understand that our residents should have choice and flexibility when choosing their home.

At Gradwell Park you will have two options to decide how much you pay. You do not pay the DMF until you sell your property, the table below shows what the total payment would be if you sold at any given time.

Option 1 – 15% DMF  Option 2 – 30% DMF
Year House value* DMF % Forecast fee Year House value* DMF % Forecast fee
Year 1  £350,000  3%  £10,500 Year 1  £350,000  6%  £21,000
Year 2  £360,500  6%  £21,630 Year 2  £360,500  12%  £43,260
Year 3  £371,315  9%  £33,418 Year 3  £371,315  18%  £66,837
Year 4  £382,454  12%  £45,894 Year 4  £382,454  24%  £91,788
Year 5  £393,928  15%  £59,089 Year 5  £393,928  30%  £118,178

*Assumes a house value increase of 3% per year

*OPTION 1: In the above example, the deferred management fee equates to a 3% increase up to a maximum of 15%

*OPTION 2: In the above example, the deferred management fee equates to a 6% increase up to a maximum of 30%

3. How much is the Monthly fee?

As well as the deferred management fee above, a monthly fee is in place for maintaining the village and the village grounds as well as fees associated with managing and operating the services included within the Village. There are two options dependent on which DMF model you have opted for:

Option 1: Monthly fee of £750 with the deferred management fee set at a maximum of 15%.

Option 2: Monthly fee of £370 with the deferred management fee set at a maximum of  30%.

4. How much are the Monthly fees likely to go up?

The Monthly fee in Option 1 (£750 per month) is reviewed annually and will increase by RPI, this will take effect from the 1ST January each year.

The Monthly fee in Option 2 will remain at £370 per month for the entirety of your ownership.

5. What does the monthly fee pay for?

The Monthly fee covers all of the costs incurred in providing the services as set out in the Deed of Management.  Briefly, amongst other things, these will include:

  • Onsite Village manager and supporting staff.
  • A full time Wellbeing Coach
  • Gradwell Park Club Membership
  • One hour weekly cleaning of your property.
  • Weekly linen and towel laundry services.
  • External window cleaning
  • Maintenance and decoration of common parts.
  • External maintenance of properties and landscape gardening.
  • Maintenance of equipment such as lifts, alarms and fire extinguishers.
  • Common part rates, utilities charges and your refuse and recycling collection.
  • Buildings insurance (not your personal possessions or contents of your property or carpets).
  • 24 hour Emergency First Response staff
  • Minibus service
  • Accountancy fees.
  • Reserve Fund to build up a financial reserve against unexpected or major future repair bills.

*Please note, this is not a definitive list. Services and facilities offered and mentioned are as of 2020 and may change in the future. For a full exhaustive list please enquire with you Village manager.

6. Gradwell Park membership Club.

As a resident of Gradwell Park you will automatically be enrolled into the Gradwell Park Members’ Club.

You’ll have complete access to all the amenities and services on offer, these vibrant spaces will truly be the heartbeat of the community.

A brief overview on facilities included in the club are:

Members club facilities

  • Access to our Gym/Fitness studio with specialised equipment.
  • Personal trainer sessions in the fitness studio
  • Access to nutrition plans through our Wellbeing Coach
  • Treatment room with hair salon – professional beauticians, therapists and stylists will be available to offer services.
  • Enjoy a delicious meal in the restaurant or a slice of homemade cake and a coffee in our coffee bar.
  • Access to the onsite Village shop
  • Use of allotment within the village grounds (if available)
  • Use of the library
  • Weekly activities schedule of activities and events
  • Minibus trips and excursions

The Members’ Club will also be extended to the wider community to join for a monthly fee (as long as they’re over 65).

7. Are there any other additional charges?

You are responsible for the water and energy bills associated with your home as well as the council tax, television licence and home contents insurance.

Although we offer extensive services within the monthly fee, their may be additional costs for additional events, specific wellbeing classes and additional care requirements you may have.

8. Should I be legally advised?

The Monthly fee and the Deferred Management Fee can be substantial payments. It is therefore clearly important to understand how these fees are calculated and when they are payable and you are advised to obtain legal advice in this respect. Retirement Villages will not grant any new lease or assign an existing lease to anyone who is not legally represented.

Indeed, we recommend that you should seek independent advice, support and representation as appropriate with regards to a move to one of our Villages.

9. What happens when I want to sell my property?

When you wish to sell the property you can offer it on the open market. Retirement Villages has its own in-house dedicated estate agency service offering a specialised sales and marketing service and will be pleased to offer its services to you for a fee to be agreed at the time. Alternatively, you may instruct another estate agent of your choosing if you wish.

10. Are there any restrictions on who can buy and who I can re-sell to?

You are free to sell your property to anyone you wish to provided they are at least 65 years old and require at least the level of services as described in the Deed of Management and paid for by way of the Monthly fee. The Village Manager will be available to help with this when required.

11. What is the Management Company?

A Company (Gradwell Park Village Management Ltd) is set up for the sole purpose of the management of the estate and buildings at Gradwell Park  and arranging the services as set out in the Deed of Management.

12. Can you show me a worked example of what all this might cost me?

As an illustration, we have calculated the annual costs for a typical property in Gradwell Park and we have also given an illustration of the potential costs on sale.  These are available upon request.

13. Can I make alterations to my property?

Subject to obtaining prior consent from the Landlord, minor internal alterations and improvements can be made.

However, when the lease is assigned, the Landlord reserves the right to restore the property to its original condition at the expense of the outgoing tenant. An administration fee of £90 inclusive of VAT is chargeable for approval and final inspection of the works.

14. Can visitors stay?

Within the terms of the Lease guests may stay with you in your property for 28 days maximum at any one time.

An en-suite guest room is also available within the Village at a reasonable price.

15. What about parking?

In order to park your car at the village you must have a rental agreement in place for a car parking space.  The rental agreement will be for a term of 1 year and renewed annually, but will expire if you leave the village or cease to have a car.  The price to rent a car parking space is currently £500 per annum.  There are also some spaces strictly reserved for visitors.

There are separate arrangements for disability scooters.  There are a limited number of disabled car parking spaces available subject to the same rental arrangements as for ordinary car parking spaces.  Further information will be available on request.

16. Are pets allowed?

Yes they are. However, for obvious reasons it is essential that they are well trained and controlled.

17. Am I allowed to sub-let my apartment?

As per the terms of the lease, residents are not permitted to sub-let their apartments.

18. Is there a selection policy for prospective purchasers?

Retirement Villages does not discriminate on the grounds of age, marital status, race, religion, sex, sexual orientation or disability and is committed to a policy of equal opportunities and diversity.

Our retirement villages are designed to provide an enjoyable and supported environment for older people living independently.  So far as we are able, we will endeavour to accommodate residents in line with our diversity policy.

Prospective purchasers will be asked to confirm that they are generally in good health.  Purchasers who have specific health problems may be required to provide further information via their G.P.

19. What emergency support is available?

A suitably trained and qualified member of staff is on duty 24 hours per day 7 days per week to provide an emergency call out support service within the Village.  This strictly covers emergency first response only.

20. What happens if I become unable to look after myself or my partner?

Although our Villages are built with independence in mind, options for additional help are available even if you don’t need day to day help right now. We will be able to assist you through our onsite Care partner. There is no reason why you shouldn’t be able to continue living the life you know in your home. If the situation deteriorates further and independence diminishes to the point where permanent care is needed, then inevitably the resident themselves or their relatives will recognise that alternative living arrangements need to be made.

In the very rare circumstances of this not being recognised, and bearing in mind the best interests of other residents, the staff, and the resident themselves, then there is a covenant in the lease where the Landlord may give notice.  It should be stressed that this is the very last resort and it is hoped, that matters such as this can be dealt with in a sensible and sympathetic manner by all parties.

Where a couple are occupying a property and one of them becomes unable to look after themselves, there is no need for alternative arrangements to be made, as long as the other party remains able to cope, with the assistance of outside agencies.

Additional information can be obtained through the Village manager or visiting our onsite care partner.

21. Are there any social activities?

All of our villages offer an extensive social programme which are organised and planned by residents and facilitated by the management team.

There is a restaurant which is open 6 days per week. Use of the restaurant and home delivery meals are charged as used, as is the bar.

Treatments within the hair salon or treatment room will be an additional cost.

The Village Residents with support from the management team will also organise social events and outings for residents to join in if they wish.

There are also coffee mornings, these happen daily where residents are able to socialise.