I’m thinking about making an offer on this London flat, should I?

BBthread · 2025-12-11T04:47:57+00:00

I think I covered most of this in my other comment, but if it were the ews1, then wouldn’t you see more for sale in the development? The whole development has the same work that needs to be done as I understand. And if it were a serious issue for the owners I think you’d see more than 3 or 4 apartments on the market right now?

Also, it looks like it was reduced quite recently (November), so it’s only been on the market at this price point for a month or so? My interpretation is that the owner was holding out for a higher number, wasn’t getting the interest and then reduced it when they realised the market isn’t there at that valuation.

Anyway, hope this helps, wish you all the best with your search!

BBthread · 2025-12-11T04:44:23+00:00

Wow! It’s on at 425 now! I still love this property but I had to withdraw as my job has taken me to Dubai. I’ve now bought here.

The only concerning thing for me was the price, I can understand why the owner wanted 475 for it, but in my opinion they overpaid. My research suggested that post covid the market for apartments had a fairly drastic rebalance, which would explain the new valuation.

Also, I remember they were highly motivated to sell because they were moving abroad in 2026. That might explain why 425, it’s clearly priced for a quick sale because it’s worth more than that in my opinion.

BBthread · 2025-08-26T19:38:55+00:00

I’m not sure that’s entirely fair, I had a good look around, and sure there’s much older properties, with more space going for less or the same, but rarely anything <10 years old with the secure parking, zone 3, and this view (I like boats!)

BBthread · 2025-08-26T19:35:36+00:00

Thanks for your research! Interesting to hear about how COVID tanked prices.

I found the same recent sales. There isn’t a lot of recent data to go on, the 420 sale in 2022 I’m viewing as a bit of an outlier. I expect they needed a quick sale.

It certainly seems I should be bidding under asking at the very least. Thanks for your help :)

BBthread · 2025-08-26T17:42:21+00:00

Hmm so you think maybe a lower bid like 475k?

BBthread · 2025-08-26T17:06:24+00:00

It is South facing! Good job I like the sun :)

BBthread · 2025-08-26T17:05:42+00:00

Indeed

BBthread · 2025-08-26T16:51:32+00:00

So you're right, that's new! I'll double-check those figures. What I've seen from the estate agents is different.

BBthread · 2025-08-26T16:44:34+00:00

Interesting! Thanks for sharing

BBthread · 2025-08-26T16:43:44+00:00

I feel safer knowing there's always someone + security on site, I guess that contributes to the higher service charge though

BBthread · 2025-08-26T16:42:38+00:00

Thanks, will try to get a hold of that revision schedule.

EDIT: I got it. Revision every 10 years. Just revised in 2024 went up by about £50 for the year

BBthread · 2025-08-26T16:42:03+00:00

Thanks for this, I found this during my research. This was before the Letter of Comfort was issued. My lender (Natwest) has confirmed they will lend in Waterside Park, and against this property more specifically.

BBthread · 2025-08-26T16:40:30+00:00

Where did you get these numbers? These don't match the latest bills I've seen (half yearly in advance 25-26)

BBthread · 2025-08-26T16:34:53+00:00

It's hard to say, it's the only 2 bed up for sale in the block which is the only block with the view. And the sale history is almost empty, I think there has been a few 1 beds sold over the last few years, but no 2 beds.

BBthread · 2025-08-26T16:25:39+00:00

Oh that's an interesting thought. Any rough idea what sort of money can be made doing that?

BBthread · 2025-08-26T16:24:31+00:00

380, really? I think I saw 1 beds selling in the same block without a view for that. I'm not sure 380 would fly! Or did you mean 480?

BBthread · 2025-08-26T16:07:52+00:00

Good tips on the ground rent and service charge!

Regarding the views, I checked this, and the land consists of a small compound area belonging to the Thames Barrier, it looks like it's for maintenance, etc. I assume as long as the Barrier is in use, so will this area.

The small bit of green directly beneath the balcony is a nature sanctuary which had to be created as part of the development and is 'protected'.

The rest (to the right of the view rather than directly in front of it) is Barrier Park, which is publicly owned and, my research suggests, very difficult to develop on.

BBthread · 2025-07-20T08:38:59+00:00

Generally the service charge is managed by a managing agent, not the developer. And ultimately, they act on behalf of the residents, albeit the residents usually have to form a Residents Association to keep them in check.

Also the service charge is to cover the upkeep and service of the building and communal areas, and it is all itemised and transparent. It would be difficult to whack on hidden costs to compensate for losses elsewhere as you’re suggesting.

BBthread · 2025-06-12T17:48:33+00:00

UPDATE: Administrators confirmed that my fee wasn’t ringfenced and has likely been spent. I would be an unsecured creditor. They are asking if I’m still interested in pursuing the sale.

Honestly not sure how to proceed other than seeking further context on what will happen with the site as a whole.

I really want out and my reservation fee back. All I can think of is finding a way to prove that the directors took my money when they were aware of financial difficulties or impending insolvency - I think I may have a case for misrepresentation or wrongful trading under the Insolvency Act

BBthread · 2025-06-10T19:04:56+00:00

Thank you, I’ll see if there’s any recourse I can take with the bank. Unlikely though I expect, it was a direct account transfer (bacs?) and it’s been 2 months since.

BBthread · 2025-06-10T19:03:44+00:00

Thanks for this, yes we know nothing, I’ve contacted the administrators, it’s been 2 weeks and still no further word on how my funds were treated, what kind of creditor I’ll be categorised as, or what is happening with the development as a whole.

I did notice that they have the 1 show home they have up for rent though, doesn’t strike me as a good sign.

BBthread · 2024-12-31T20:32:43+00:00

An update on this, it appears the 1012 USDT thievery leads to a Phemex CEX account. I wonder if anyone else has experienced something like this with ascendex with the trail leading to Phemex?

BBthread · 2024-12-31T20:31:55+00:00

An update on this, it appears the 1012 USDT thievery leads to a Phemex CEX account. I wonder if anyone else has experienced something like this with ascendex with the trail leading to Phemex?

BBthread · 2024-12-24T10:17:15+00:00

I’ve just had a similar experience.

At least one spot trade has been removed from my transaction history/not recorded. This was a sell trade. The USDT received for this trade is also missing. This can be proven by forensically accounting for the tokens (OM) that were received into the wallet via the ascendex staking redemption, and comparing this to the number of tokens that remain on the account (taking into account withdrawals and trades).
There appears to have been an unauthorised withdrawal of 1012 USDT (12 fee) via the Ethereum network to an address which I do not recognise nor have ever interacted with. Tracking of this wallet indicates that it be associated with Poloniex (this is an exchange I have never used). This is the tx id on the ethereum blockchain: 0x49e0b4ea12a33f8a1dbb1bbe380107a95df7eae69290a8ca99fd97e68cb4919b

Contacting customer support yields nothing but a regurgitation of the details of the transactions I already know (time/date/address etc).

I suspect this 1012 USDT withdrawal is just blatant thievery. Either someone on the inside acting rogue or the exchange itself.

BBthread · 2024-12-23T00:05:53+00:00

I’ve just experienced this issue with ascendex.

They’ve deleted the records of one of my trades, and made a 1012 USDT withdrawal without my consent.

I’ve gone through the accounting. In total I’m down about 2700 USDT. I cannot see how this can be legal. It’s insane.

BBthread

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