We don’t hide the details in the small print! So here is everything you need to know about the cost of property at Friary Meadow:
The freehold of the retirement village is owned by Titchfield CD Ltd – In Administration (“the Company”). Rob Young, Matthew Richards and Louise Brittain of Azets were appointed as Joint Administrators of the Company on 18 December 2025. The Company, acting by its appointed Administrators, is now selling the remaining vacant units at Friary Meadow on the open market. The Administrators can give no warranties or guarantees, including VAT and are acting as agents of the Company and without incurring personal liability.
Property at Friary Meadow is sold leasehold with 999 year leases. There is an annual £1 per year ground rent.
In addition to the cost of purchase there is a service charge and an ‘event fee’ when you sell the property. These are called ‘key terms’ in the lease, so leaseholders have an obligation to pay them and it’s important that you understand how they work.
Selling Your Current Property
We have good connections with local estate agent partners who can help you sell your current property. We will liaise with any agent you choose once you are sales agreed to progress your move to Friary Meadow.
Part Exchange
Part exchange or assisted move options are available from external part exchange partners and we can suggest local agents who can help with an assisted move option. Please ask for more information.
Mortgages
We drafted our lease after advice from lenders so that various financial products may be available. Lending criteria on retirement property differs between lending companies and you will need to seek advice from your own financial advisor.
The Service Charge
The service charge is paid monthly by direct debit. It covers the cost of building maintenance, insurance, repairs and cleaning of the communal areas, upkeep of the grounds and the salaries of all the on-site staff. It also includes 1.5hours per week of service in your property which most people use for cleaning or laundry but can be used for personal care. The service charge in 2026 is £7,500 per year for 2 bedroom properties (£625 pcm) and £7875 per year for 3 bedroom properties (£656.25 pcm).
The service charge has to be paid even if the property is empty.
The Event Fee
The event fee is 3% of the value of your property when it is resold. That covers the cost of selling your property. We will also pay upfront cost of preparing your property for resale, to maximise its value, and we will reclaim this amount when the property is sold. When you reserve we will give you details of how much the event fee might be in the future depending on how property prices change with time.
Additional Services
Car parking spaces are charged at £250 per year.
Additional services such as personal care, extra housework, catering, etc are also available. We will give you full details of costs on request.
The Management Company
Friary Meadow is managed by a not-for-profit company called Friary Meadow Ltd. Everyone who buys a property gets one share in this company so when all the properties are sold, the management company is entirely owned by the homeowners. That way you know you have real control over how well the site is managed and future pricing.
