All you need to know - Riverstone Kensington S - Flipbook - Page 22
How can you help with marketing for resales?
If you use Riverstone as sales agent, you will have access to the following Riverstone
• We actively manage our database of interested parties and waiting lists. We would
always look to match potential buyers to those sellers who use Riverstone as sales agent
• Our marketing team actively advertise and promote our locations and available
apartments across London. We look for the best local and national advertising spaces
and we’re also involved in ongoing PR activities and local mailings and events
Are there any pricing and other sales restrictions?
We want to protect the value of your apartment and other apartments at Riverstone
Kensington. This is why our lease doesn’t allow the agreed price to be less than “open
market value”, and we can block sales below this. Our lease describes “open market
value” using the RICS Red Book definition of market value. Our lease does allow you to
gift the apartment to a friend or family member, or pass it to someone in your will. For
gifts like this or sales at below open market value, we calculate the Deferred Fee using
the open market value of the apartment.
Riverstone is operating a retirement community at Riverstone Kensington. This is why, when
you sell your apartment, every buyer has to provide details of at least one person aged
65 or over who will live there. We call these people “designated occupiers” in our lease. All
proposed “designated occupiers” need to take the health and well-being assessment with
The Good Care Group at Riverstone before the sale completes. If the assessment shows that
Riverstone Kensington is not suitable for the designated occupiers, either side may decide
not to continue with the sale. Please ask our client advisers for a copy of the Lease Summary
for more information. This explains how we control who can live at Riverstone Kensington.
One of our client advisers needs to be involved in every resale process. This includes
sales viewings, whether you choose us as sales agent or not. This is important because
we need to make sure that information given to buyers is accurate and not misleading.
We also need to make sure that the Riverstone retirement living concept has been
properly explained to buyers. Where you do not choose us as sales agent, we will
charge a flat Administration Fee of £550 plus VAT to provide this service. Where you do
choose us as sales agent, we will not charge the Administration Fee.