Buying Your Apartment

1. Buying your apartment (Purchase Cost)

After selecting the apartment you want, you have to agree the price to buy that apartment with us. You will only pay a Reservation Fee once we agree the price. The Reservation Fee is £5,000 (which is subtracted from your exchange deposit).

2. Living in your apartment (Monthly Management Charge)

Once you have bought your apartment, you will have to pay the Monthly Management Charge. This is an annual charge, paid monthly in advance and you will pay the first instalment on the day you buy your apartment.

We offer two options but for both Options A and B, the Monthly Management Charge varies depending on the square footage of your apartment. You will be advised what the Monthly Management Charge is by our resident advisory team.

Option A: The initial Monthly Management Charge will be set out in the lease and ranges from £1,477 to £2,236 per month for one bedroom apartments and from £2,162 to £3,684 for two-bedroom apartments based on the area of your apartment. The Monthly Management Charge is increased annually in January in line with the All Items Index of Retail Prices published by the UK Government’s Office for National Statistics two months before. You will receive at least 28 days’ notice of the new charge.

Option B: The Monthly Management Charge will be set out in your lease and is based on the size of your apartment — currently ranging from £923 to £1,397 per month for one-bedroom apartments and from £1,352 to £2,302 per month for two-bedroom apartments. These charges increase annually on 1 January until you complete your purchase. At point of purchase, the rate is fixed and will only change if there is a change in the qualifying occupant (typically on resale).

The Monthly Management Charge varies depending on the square footage of your apartment. You will be advised what the Monthly Management Charge is by our client service team. It covers the cost of utilities and services in the common area. It also covers a range of lifestyle services including Concierge Services; Health & Wellness and Management.

3. Selling your apartment (Deferred Management Fee and other fees)

The Deferred Management Fee is calculated as a percentage of the sale price.

Option A is accrued at 3% for each year or part year that you own your apartment. The maximum fee is capped at 15% of the higher of the sale price or the open market value of your apartment.

Option B is accrued at 5% for each year or part year that you own your apartment. The maximum fee is capped at 25% of the higher of the sale price or the open market value of your apartment. The Deferred Management Fee is payable by you or your representatives when your apartment is sold or in certain circumstances when there is a change of ownership interests in the lease or certain changes of occupiers of the apartment.

If you decide to appoint Auriens to sell your apartment (there is no obligation), a fee of 1% of the sale price plus VAT will be payable to Auriens.

For more information and for some worked examples, please see our guide to the Deferred Management Fee.

Buying a new home is a big life decision and we would therefore encourage you to consider all your options very carefully. Most importantly you should discuss these options with your family and friends. We strongly recommend that you get independent financial and legal advice before you decide to buy an Auriens apartment. You will also need to use a solicitor when you buy an apartment from us. 

In our Key Facts brochure, you will find all the important information about purchasing an apartment at Auriens Chelsea. 

We are members of the Associated Retirement Community Operators. As 'Approved Operators' we aim to operate all of our retirement communities according to the principles laid down in the ARCO Consumer Code.