RHP HOMEOWNER OFFER FAQs

1. Will there be a ‘sinking’ fund for leaseholders?

 A sinking fund is an amount of money which is set aside to cover any major work which is needed on a property in the future. These funds can be common amongst leasehold properties. RHP is currently considering this as an option for leaseholders on Ham Close who wish to stay in the new development. No decision has yet been made.

2. Is the shared equity offer made to leaseholders and non-resident landlords something that could change over time? What happens if RHP no longer exists in the future or RHP’s equity is handed over to another organisation?

The leaseholder and tenant offer is for current leaseholders and tenants of Ham Close and our intention is that this will be a legally binding agreement between RHP and the individual leaseholders and tenants of Ham Close at the time of the re-development. The intention is that this agreement could then only be varied in the future by another legal process which was agreed between RHP (or successor body) and the individual leaseholders and tenants of Ham Close.  This would be the case if RHP was in existence or not in the future. The current offer will not apply to future tenants and leaseholders of Ham Close.

3. What is Richmond Council’s position on the use of Compulsory Purchase Orders (CPOs) in the potential redevelopment of Ham Close?

Richmond Council and RHP are of course hopeful that the scheme can proceed via agreement with all of the landowning parties involved, that is the overall objective. If circumstances ever become such that the wider delivery of the scheme with its regenerative benefits for many are being frustrated by a few, then that is when Richmond Council would actively consider the pursuit of CPO powers.

Page last updated: 16 August 2018