Metro Central Heights Residents...?

Join in these discussions today! Log in or register.
Sunday 28 March 2010 4.44pm
Hello there

My partner and I are looking to buy a studio in the lovely Metro Central. Is there anybody who'd be able to dispense a little advice on the complex from having lived there sometime?

We're particularly concerned re. service charges as have heard that they're somewhat excessive. Also I think some areas of the block benefit from better light than others... is there anything else we should bear in mind?

Plus ae there other good areas for studios/1-beds in Elephant that should come to the top of our list - any recommends? We've seen a couple of ex-authority places which obviously offer a lot more space for your money, but don't quite have the MCH charm.

Many thanks to anyone who can help
Sunday 28 March 2010 8.50pm
Hi,

I have a large two bed there and the service charge is 4000 a year, the estate agent can confirm to you ref your intended buy so yes its a large monthly outgoing and bear in mind this will forever increase. It all depends on your own financial circumstances and what you and cannot afford.

Living here is fantastic though with the pool, parking, location etc although I must admit to have thought of selling and buying a house thus releasing me from the chains of the service charge / managing agent who are the notorious Peverel OM but the area ( and why I bought here many moons ago ) is really starting to undergo change now and when all this purported 1 billion regen is done it should be an immense place to be at the centre of.

Feel free to ask anything you else you want to know.
Monday 29 March 2010 6.20am
I havelived in Metro Central for about seven years, and have the biggest flat (the one with all the trees waving on the top opposite the Coronet). It's got lots of advantages - location, security, parking (I dont personally use the gym or the pool) but the service charges are absolutely ASTRONOMICAL..without any real explanation, and Peverel is a deeply shady, labyrinthine organisation with so many wheels within wheels that it's almost impossible to get to the bottom of anything without turning it into a full time job. So you have to consider that you will be paying close to a second mortgage if you buy here.
Monday 29 March 2010 1.01pm
Hello both

Many thanks for your replies! We entirely agree that Elephant is a really exciting place to be right now. We're really excited at living there soon (we hope!).

MCH has huge charm, obviously much more so than some of the local authority buildings that we've seen. But we are concerned exactly as you say about the service charges- we could afford them now, but it seems the management company is able to hike them with impunity, which is a bit unsettling into the future, in that we could be priced out of somewhere we owned.

Also, lower service charges on a less-lovely ex authority block would mean more money to renovate the place over time. It's a difficult call and it's interesting to hear your views... the thinking continues :)
Monday 29 March 2010 1.06pm
Have a look at Wellington Mills by Morley College in Westminster Bridge Road. Trouble is, it's so good that places don't come on the market that often. Reed Raines on Kennington Road usually has any going
Monday 29 March 2010 4.28pm
Hi Edd,

I do take exception to 'less-lovely ex authority block'.

If you prefer to live in an ex office block then fine but some of us have the imagination and community spirit to make our council block a home and a half decent looking one at that! (and I didn't 'choose' to live here either')
Monday 29 March 2010 5.09pm
As the name suggests, I live in MCH & have done for 3yrs. I think the place is brilliant.

The service charges are proportionate to the size of the flat, so your studio flat would be alot less than the person who owns the biggest flat in the place and a 2 bed/bath.

You also have to bear in mind what your service charge pays for. ie. at MCH, the service charge includes water bills, a 24hour concierge, secure parking and the use of a gym/sauna and pool. So, yes it is more than a council flat, but there is a reason why it is more.
Monday 29 March 2010 6.04pm
Hi there

I have lived in a studio flat (Tower Bridge View) ten years ago and the one thing I really learned to hate was the problem in not being able to open the windows, just some flaps. Not all studio flats do have this problem, so check before putting your signature on the dotted line, I'd say.

The window problem made it impossible to cope during hot summer days nor to cook anything like fish or pancakes. I left after one year.

Best of luck!
Tuesday 30 March 2010 8.03am
Geoff: Brilliant thank you very much. We'll get investigating, really helpful :)

Duckyfuzz: I really understand what you're saying & pls don't take offence at my word choice-- obviously not every block or estate is the same and I was meaning just that MCH was comparatively more lovely than some of the places we'd seen. We're very open to anywhere and it's the feel that makes it - if your place has community spirit then give us a recommend :) One of the reasons we were so keen on MCH was the community feel (seen in this thread!)

Thanks MC and Julia too, the windows were a particular concern of ours also cos of the single glazing. Really useful what you say and we're going to need to check out those flaps :)
Friday 2 April 2010 2.00am
is this like your situation (ex local auth v MCH) - BUY BEST (OR CHEAPEST) All of these caveats have given rise to some unusual strategies. Michael Kalscheur, a financial planner with Castle Wealth Advisors in Indianapolis, suggests buying the dream house you covet (if you can afford it) or an inexpensive starter house but not anything in the middle.

“If people have their heart set on something, inevitably, if they can't afford what they really want, they buy the next best thing,” he said. “That's absolutely the worst thing you can do. Not only do you not get what you want, but it sucks you dry.”

Why? Well, if you buy that entry-level home instead of the silver-medal home, you can save a lot more money each month after making the house payment (as long as you're disciplined) than you would if you were paying a big mortgage toward that next best house. And all of your other housing costs will be lower, too. Then, several years later, you're in a much better position to buy what you actually want. http://www.nytimes.com/2009/09/12/your-money/mortgages/12money.html?_r=1&em

To post a message, please log in or register..

Keep up with SE1 news

We have three email newsletters for you to choose from: