Retirement Villages - 56 Medway House

Property type
Apartment

Bedrooms
x1

Bathrooms
x1

Description

Welcome to this premium one-bedroom apartment on the sixth floor featuring a private terrace that opens onto a larger communal roof garden. Upon entering, you are greeted with dual aspect windows and spacious living area adorned with large doors that allow an abundance of natural light. The open plan kitchen is designed with convenience in mind, equipped with Neff integrated appliances including an oven, microwave, hob, fridge freezer and an AEG dishwasher along with a separate utility cupboard housing a Neff washer/dryer and additional storage. The well-proportioned bedroom offers a peaceful retreat, complete with built in wardrobes. The bathroom is accessible from the bedroom and living area and features a walk-in shower. This apartment is finished throughout in a light contemporary colour palette, offering a stylish and welcoming home. *** these pictures are for illustrative purposes only***

Paramount Place

Address

Paramount Place
55 Mount Pleasant Road
Tunbridge Wells
Kent
TN1 1PN

Living in Paramount Place

Property Information

Building completion date: 16 September 2026
Furnish type: Unfurnished
Size: 683.00 sq ft

Financial Information

What is the Guaranteed Repayment Lease?
The Guaranteed Repayment Lease provides security by guaranteeing repayment of the original purchase price (minus the Deferred Management Fee and any arrears) and by limiting liability for ongoing payments of the Management Fee to two months after service of the Notice to Vacate.

*Council Tax and Utilities Fees remain payable until the property has been resold.

The Management Fee is £7,000 per annum £583 per month (from 1st January 2026 to 31st December 2026.)

The Deferred Management Fee (DMF) is calculated as a percentage of the sale price based on the length of ownership, when purchasing on the Guaranteed Repayment lease the DMF follows as such; 8% within the 1st year, 16% within the second year and 24% thereafter

What is the Open Market Lease?
The Deferred Management Fee (called an ‘Event Fee’ in the lease), is payable every time a property is re-sold.

When purchasing on the Open Market lease the DMF follows as such; 5% within the 1st year, 10% within the 2nd year, 15% within the 3rd year and 20% thereafter.

The Management Fee is £12,000 per annum £1000 per month (from 1st January 2026 to 31st December 2026.)

Upon re-sale there will be 1.5% Selling Fee.

Utilities package fee: £1,728.00

Please download the documents below to see the financial details for this property.

Financial Guide Management Fee FAQ