Finance & Funding

Historically,  a freehold plot on The Avenue would be occupied by a single residential dwelling and they would be responsible for the repair for their portion of the road, however over time single freehold dwellings have been replaced with multiple-residence apartment blocks and this has led to an exponential growth in the flow of traffic along the road over the last few decades.

Therefore, given the legal responsibilities of the freeholders, we feel the best and fairest way to do this is for each freeholder to make an annual financial contribution to the fund based on the width of the freehold plot frontage which (where relevant) would be levied via the service charge/management fee – this is particularly relevant where the freeholder is absent.

Please see below the letter sent to freeholders in September 2019.  This outlines what The Association believes is a fair charging formula for all freehold properties along the unmade portion of The Avenue.