A Guide to the Estate Rent Charge
The Estate Rent Charge - 2008
The Deed of Grant and Covenant entered into upon the purchase of your property, governs the Estate Rent Charge, which comprises three elements.
- The SW Charge.
- The Marina Charge.
- The Berth Charge.
The Berth Charge is only applicable to berths that are privately owned and is not covered by this note.
The SW Charge
The Trust covenants with the homeowner to apply the SW Charge towards the cost of execution of the Littoral Drift obligations and of the maintenance and improvement of the beach and sea defences within the vicinity of the Harbour and towards Harbour Maintenance or any one or more of such objects.
This was set at £75 in 1988 and varies in accordance with the change in the Retail Price Index. For the year commencing 1 January 2008 this is £151.52. The invoice is paid in advance and relates to the period 1 January to 31 December 2008.
The Marina Charge
The Marina Costs are all costs and expenses reasonably and properly incurred in connection with or incidental to the cleansing, repair and maintenance of the Harbour and the Waterways.
This is calculated from the Marina Costs. The Costs are calculated from the audited accounts for the preceding financial year, which runs from 1 October 2006 to 30 September 2007. The invoice is paid in arrears and relates to the period 1 January to 31 December 2007. The Marina Costs for the period ended 30 September 2007 are £332,967 as shown on the enclosed statement of Marina Costs. The Marina Charge to be levied equates to £146,700. This figure has been arrived at after taking into account a figure of £186,267 towards Harbour Maintenance from The SW Charge.
The number of properties liable to pay the Marina Charge is 2,892. This figure is therefore used as the divisor to calculate individual charges. The charge for the period ending December 2007 equates to £50.73.
Further information regarding Sovereign Harbour Trust can be found on this web site.
December 2007