Please find below updates on four key areas- the tender process, EGM resolutions, the proposed boatyard re-development and the freehold purchase transaction.
The Directors have employed Fiona Docherty of James Andrew Residential to conduct an independent tender for the role of managing agent at Baltic Quay.
The tender process will be completely transparent and this started with the Forum for leaseholders held at Baltic Quay on September 2nd.
The five companies being invited to tender are: Newton Jones Ltd, Lamberts Chartered Surveyors, KFH, Drivers & Norris and Parkgate Aspen.
All leaseholders are invited to use Directors@BalticQuay.London
to send in comments on any of the companies and all of these will be passed to Fiona Docherty.
In order to ensure the tender is conducted properly, the Directors have accepted an offer from James Andrew Residential to act as interim managers should this be required as part of the selection of a managing agent. The Directors do not expect the cost of this interim solution to be any more than the current charges from Newton Jones.
Immediately after the EGM next Wednesday 16th, Fiona Docherty will be available to take questions from leaseholders to clarify any issues.
EGM Resolution 3
Regarding an open letter from Newton Jones on Resolution 3 at the EGM, Helen and Richard appear to have misread the Notice, this resolution has been proposed by a large number of leaseholders. The only resolution proposed by the Directors is Number One, where we seek ratification of the appointment of Tom Bridge to the Board. However, our understanding is that Resolution 3 proposes a review of the Porters' roles, pay and reporting structure.
We write to remind you that if you wish to take up the freeholder's offer to acquire a share of freehold for your flat at a fee of £150 plus legal costs, you will need to instruct Bishop & Sewell in writing no later than 23 September 2015, as the freeholder has set 28th September as the deadline for acceptance of the section 5 Notice.
In accordance with the wishes of a group of leaseholders who questioned the value of the freehold, Yvonne Kunihira-Davidson commissioned an independent valuation of the freehold. The surveyor's report puts a value on the freehold of approximately £65,000, which is more than the offer we have received of £24,450 excluding legal costs.
We have been informed that as of 10th September, 58 leaseholders have instructed Bishop & Sewell to proceed. In order to proceed under the section 5 process, a minimum of 82 leaseholders are required to accept the Notice.
If the target of 82 leaseholders is not achieved, the purchase will proceed under different terms, although it will still be for a total purchase price of £24,450 excluding legal costs.
If you have any questions, please contact Yvonne Kunihira-Davidson (email@example.com
) or Chris Macartney (firstname.lastname@example.org
To view a copy of the latest update and the freehold valuation report, please follow this link
Link to the freehold valuation report