Much of the social media has highlighted the very poor value of retirement development living?
Overcharging, poor service and plunging values have blighted the sector.
That said, there are still opportunities for potential purchasers?
Take the case of Redfern House, Stockport?
A one bedroom flat is listed as being on the market for under £70,000.
It is listed as being on a development managed by Firstport which no doubt puts many off from buying.
This should no longer be an issue as despite the listing following a hard fought case at the tribunal Redfern House have won their Right to Manage and have appointed SRS to manage them.
So now residents can live happy in the knowledge that they will no longer be paying sky high service charges in order to "drive revenues" and knowing that work that needs doing will be done and to a good standard.
This is a significant "win" for SRS. Not only does it increase the SRS managed portfolio, but more importantly it is a "win" for word and mouth from residents of other nearby retirement developments who have also escaped the clutches of Firstport and appointed SRS.
