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Natex

Location: The site is located at the junction of Norton and Islington. L3 8PY

Developer / SPV: Mount Group Student Natex Limited

Architect: Falconer Chester Hall

Management Company: Mount Group Management / CRM Student

Sellers Solicitors: Eversheds- Sutherland

Buyers Solicitors: MSB, PLS

Tenure: 250 years

Build Warranty: 10 years

Number of Units: 566 (472 En-suite – 94 Studios )

Unit Types:

  • Studio Gold is 22sqm
  • Deluxe Studio is 27sqm
  • Bronze En-suite is 13.5sqm

Expected Completion: Aug 2020

Rental Guarantee: 9% Net Income for 5 years from Completion

Ground Rent: 

  • En-suite £250 per annum
  • Studio £350 per annum

Facilities:

  • Games Room
  • Gym
  • Reception
  • Laundry room
  • Meeting room
  • Café eating / Area
  • Communal lounge
  • Outside seating area

 Service charge: Service charge & Management approx. £1250 per unit

Payment Terms:

Option 1:

  • Reservation of £5,000
  • 50% of the net property purchase price on exchange of contract including reservation (28 days from reservation)
  • 25% of the net property purchase price 18th Jan 2019 months after exchange of contracts
  • 25% of the net property purchase price upon completion of the unit
  • 4% Interest paid on deposited funds

Option 2:

  • Reservation of £5,000
  • 25% of the net property purchase price on exchange of contract excluding reservation (28 days from reservation)
  • 25% of the net property purchase price payable on 1 st July 2018
  • 25% of the net property purchase price payable on 21st Jan 2019 Including reservation fee
  • 25% of the net property purchase price payable upon completion of the unit
  • No Interest on deposited funds

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