crescent house abatement for leaseholders
At the March 2024 Wardmote the following Resolution was passed:
The Wardmote requests that the Corporation of London immediately apply the abatement of 27% of structural repairs as set out in the leases of Crescent House, or provide a full argument why this should not be done.
CoL response
From the ‘Wardmote updates’ report presented to the 20 September 2024 Children’s Service Committee:
The Housing Division will apply the abatement to service charge accounts, as advised to Crescent House leaseholders in writing on 9th April 2024. The letter confirmed decisions made in relation to the definition of “eligible costs” within Clause 4(4)(b) of the Crescent House lease after the Corporation sought legal advice on the effect of this clause in the agreement.
As a result of that advice, and with the approval of the relevant Corporation committee, the Corporation agreed to abate (that is, reduce) future and historic service charges (back to 2012/2013) under all current and future leases at Crescent House by:
- 27% in relation to external and structural repairs and decoration works; and
- 3.9735% in relation to works to common parts and lifts.
The refund for historic charges will be applied by way of a credit to 68 service charge account by the end of October 2024. Individual leaseholders will be written to once the final calculations have been made, and rebates have been credited.
These abatements will also be applied, where applicable, to the upcoming window replacement works and to all future applicable works at Crescent House.
