Shares
WHY BUY A SHARE
Talygarn Manor and Country Park (Dwellingholders) Ltd
(incorporating the Residents Association)
Potential Purchase of a share in the Country Park .
Dear Dwellingholder,
75% of all Dwellingholders own shares in the company that was formed to purchase the freehold from Cowbridge Developments. Our aim is to achieve 100% share ownership for all who own properties in the Country Park. We represent the Talygarn Manor and Country Park Dwellingholders Company which is purchasing the freehold grounds and services from the seller Cowbridge Developments.
I would like to invite you to purchase your share available for you at your purchase address. The price is commensurate with the purchase of the Freehold grounds at a price of £100,000 divided between 86 Dwellingholders. The basic terms are outlined in two forms which are linked to this page. There are many advantages to purchasing a share in the Dwellingholders Company.
- You will save on annual ground rent. If you are a leaseholder – saving £100 per year when the freehold purchase is completed. You will also receive a £25 share rebate for a period of £10 years. In straight line terms you will receive a return on your basic investment of £1,250 (share Price 1,249) in ten years.
- If you are a Freeholder you will receive a £50 per year incentive rebate on your share price for a period of 10 years. You will also receive a £25 share rebate for a period of 10 years when the freehold is purchased. In straight line terms you will receive a return on your investment of £750 (share price £714) in ten years.
- You will be part owner of the freehold of the Country Park itself.
- You will have a say in the level of service charges and sinking fund you will pay on an annual basis; thereby helping to maintain the quality of the service and keeping the costs down to a level that you will have a say in. Your shareholding will decide the level of service and the cost of the service.
- We also believe that the shareholding adds value to your property in the long run. (We appreciate that you may not necessarily thinking about that at present but we all have to look to the future by investing in the present assets around us).
You will have had a lot of information from yours and the seller’s solicitor. However below is the outline of what the Country Park Comprises of:
- The development comprises 86 dwellings;
- 6 Cottages Freehold
- 13 dwellings at Talygarn Court Freehold
- 2 dwellings at Tree Tops Freehold
- 40 dwellings at Western Courtyard Leasehold
- 25 dwellings at The Manor Leasehold
- The grounds are distinguished in three separate ways:
- Shared Land – in which the leaseholders and freeholders pay an equal share for its upkeep ( 1/86th) This may be subject to adjustment in future to 1/86th notice will be given.
- Amenity Land – this is the outlying fields to the west of Western Courtyard. It’s maintenance is paid for by the leaseholders (1/65th).
- The Grounds – these are the Grade 11 listed gardens adjacent to Western Courtyard and the Grade 11 Manor – paid for by the leaseholders (1/65th).
- The leaseholders pay an annual service charge + a sinking fund + a ground rent on a 999 year lease. (ground rent will not be paid when the freehold is completely purchased.
- The freeholders pay a lower service charge (for their share in ground maintenance of the Shared land + security) + a smaller contribution to the sinking fund (for maintenance of common items such as road repair, maintaining amenity land etc)
If you haven’t purchased a share you are strongly urged to reconsider your decision not to buy a share in this beautiful Country Park.
Please feel free to contact , The Secretary, TMCP(Dwellingholders Ltd) at the above address or contact by email Dwellingholders@talygarn86.co.uk
Or day time telephone number between 10am and 3pm 01443 228865