Hi,
Wonder if anyone can help or point me in the right direction with this query.
I'm about to purchase a new home and waiting to exchange on new development. There is a couple of green areas and a square which will be maintained by an estate management company but paid by other 31 homeowners.
Within that square lies 3 Attenuation Tanks forming a SUDS drainage system. Two are designed for a 1 in 100 year event (11x5x1m & 19x5x1m) & 30% for potential flooding with the other a 1 in 30 year event (20x6x1m).
There is a planned annual maintenance programme outlined by management company. My concern is if these tanks will need to be replaced after every 10 years or last a few decades? If they are something to be done every 10 years, then I'm looking for some idea as to the type of cost this could entail, if installed today for example. In other words, is there a risk of seeing something like a 15k bill once every 10 years divided by us all or could it be something nearer six figures?
I have no clue and struggling to get any idea from the property developer, proposed service management company or solicitors. I just feel I am going in blind with all this and fear a big financial risk potentially being taken on. It seems to me like a developers way to get around not being able to sell leasehold properties anymore.
Any help appreciated.
Thanks
JJ
Wonder if anyone can help or point me in the right direction with this query.
I'm about to purchase a new home and waiting to exchange on new development. There is a couple of green areas and a square which will be maintained by an estate management company but paid by other 31 homeowners.
Within that square lies 3 Attenuation Tanks forming a SUDS drainage system. Two are designed for a 1 in 100 year event (11x5x1m & 19x5x1m) & 30% for potential flooding with the other a 1 in 30 year event (20x6x1m).
There is a planned annual maintenance programme outlined by management company. My concern is if these tanks will need to be replaced after every 10 years or last a few decades? If they are something to be done every 10 years, then I'm looking for some idea as to the type of cost this could entail, if installed today for example. In other words, is there a risk of seeing something like a 15k bill once every 10 years divided by us all or could it be something nearer six figures?
I have no clue and struggling to get any idea from the property developer, proposed service management company or solicitors. I just feel I am going in blind with all this and fear a big financial risk potentially being taken on. It seems to me like a developers way to get around not being able to sell leasehold properties anymore.
Any help appreciated.
Thanks
JJ