Pen Morvah is an exciting development of 31 one and two bedroom retirement apartments for the over 60s. Located in the popular and vibrant coastal town of Bude in the centrally located area of Bramble Hill. Bude offers year-round amenities and a busy calendar of events - from small boutique gift shops, to proper Cornish bakeries and the bigger high street stores when you need them. A truly great place to retire which offers a close-knit but welcoming community on the beautiful Cornish coast.
Each apartment at Pen Morvah features carefully selected specification designed with comfortable, convenient living in mind. There is a choice of apartment layouts available to suit your way of life. Many apartments also offer patios or balconies so you can enjoy the outdoors from your own apartment. All apartments also benefit from having their own washer/dryer included.
Designed to be comfortable and accessible, there is a lift to all floors and a stylish homeowners' lounge complete with WiFi, perfect for relaxing and enjoying the range of events on offer arranged by the House Manager and homeowners.
Pen Morvah also has a House Manager on-hand at selected times throughout the week ensuring the smooth running of the development, plus there's a 24-hour emergency call system should it be required.
- Expertly designed apartments with ease of living in mind
- Friendly on-site House Manager to ensure smooth running of development
- Homeowners' lounge to host a range of events
- 0.1 miles to the town centre with its range of amenities
- A vibrant coastal community with year-round events
- Secure entry to the development for your peace of mind
- By the sea
- Landscaped gardens
- Guest suite
- Wheelchair access
- Lifts to all floors
- 24/7 call system
- Mobility scooter room
- Intruder alarm
- Electricity, heating and lighting (communal areas)
- Future maintenance fund
- Water and sewage (communal areas and apartments)
- Professional fees
- Maintenance of building and gardens
- Emergency call system
- Building insurance
- Income to guest suites and sundry income
- Development staff
What's not included?
- Electricity, heating and lighting (apartments)
- Home and contents insurance
- Council Tax
- Phone / broadband
- Ground rent
- TV licence / TV service
Will costs increase after I move in? How are budgets set?
Our service charges are fixed on an annual cycle and reflect the costs of the services we procure on behalf of our homeowners.
We share the individual costs that make up the service charge with homeowners and outline the methods for calculating the resulting charge. The service charge for each year is agreed in consultation with homeowners through an open book budgeting process.
We do our very best to negotiate the best cost with third party service providers on behalf of our homeowners. As part of our system of checks and controls to ensure they are treated fairly, we regularly monitor service charges in our managed schemes against current market practices and third party providers to ensure we offer competitive rates. We have developed a simple chart to help Customers make a direct comparison for use during the sales process and a full breakdown of the service charge budget is available from our Sales teams and House Managers at all new developments
Is it more expensive to live in one of your apartments than my current home?
Many of our homeowners are pleased to find that the service charges for their apartment tend to work out at less than what they were paying in like-for-like costs at their previous property.
Energy bills often turn out to be lower thanks to the modern construction methods we use at all our developments. Your new apartment is also likely to be a more manageable size and so cheaper to run.
When Customers discuss the purchase of a McCarthy Stone apartment with us, they receive a service charge leaflet and our Sales Executive sits down with them to help them fill in the costs, review what is covered in the management services and compare them to day-to-day running costs in their current home. Our Sales Executive ensures that they have a detailed knowledge of ongoing costs before a sale is completed
Do I need to pay ground rent, how much is it and how is it set?
Ground Rents are fixed for 15 years. They are reviewed on the fifteenth anniversary of the date of commencement of the term and each successive fifteenth anniversary from that date. Increases are linked to either the movement in the Retail Price Index (RPI) since the last review, or if greater, by 2% per annum, and is compounded yearly.
There are differences between one and two bed apartments. McCarthy Stone sets the difference at a figure which it considers fairly reflects the size difference in apartments. While it would be possible to base the difference on actual square footage, this would be a complicated exercise and would lead to minor variations in ground rents between comparable apartments within any given development which would be administratively complex and could cause confusion.
The ground rent does not increase after the 125th anniversary even though our new leases are for a term of 999 years.
In January 2021, the Government announced plans for removing ground rents for all new retirement properties. These proposals have not become law and the Government is not proposing to make them retrospective. As these are proposals there will be no immediate change to how we sell our apartments, but this may change in the future.
Do your service charge budgets proposed at the start of the year prove to be accurate?
The service charge budgets represent those costs that would be expected to be incurred in a normal year of operation with a full development. It is the intention of McCarthy & Stone Management Services to ensure the service charge budgets are set as accurately as possible. Where possible, we try to keep annual increases in line with inflation although certain costs such as Utilities can have inflationary pressures that are outside of our control. Typically, our developments have shown a slight surplus to date, which is refunded each year to homeowners within six months of the end of the period.
Are there any fees that are payable on selling or letting?
It is important that customers do not face any unexpected financial burdens in their new home resulting from, for example, the need to undertake any major refurbishment or structural repairs on the development. In order to provide confidence that there is enough money available to meet this work, the service charge includes a small charge to help cover unexpected costs such as these. This is called the Contingency Fund, and is similar to a ‘sinking fund’. It is a specific fund kept in the development’s own bank account. It is held in trust and its use is restricted to the maintenance of that development and cannot be accessed by McCarthy Stone. It is there for the benefit of all homeowners and finances the replacement of carpets and furniture in the shared areas and longer-term repairs and renewals such as roofs, window frames and replacement of lifts.
In order to keep this weekly cost – and hence the service charge – to a minimum, the development’s specific Contingency Fund is ‘topped up’ by a one-off charge of 1% of the resale price upon the sale of the apartment, in addition to a small charge in the service charge.
With regard to subletting on leases prior to October 2014, we will charge a concessionary rate (irrespective of the provisions in the lease, which may be higher) of one month’s rent for each year that the apartment is sublet (or pro-rata for less than a year).
This is a concession from the terms of the lease which are in essence one month’s rent for each six month sublet period. This concession will apply for a maximum period of two years, after which time we will revert to the terms of the lease.
For leases from October 2014, the subletting contingency fee has been reduced to a contingency fee of 1% of the annual rent (or pro-rata for under-letting of less than one year). Where the underletting is for more than a year, the contingency fee is 1% of the annual rent payable annually on the anniversary of the commencement of the term.
There is also a small administration fee collected by MSMS / YLMS to cover their costs to check that the incoming occupier meets the terms of the deed of conditions (i.e. meets the age criteria and is capable of leading an independent life) and provide information about the development, the service charge and insurance. Contact our Property Transfer team on 01202 508299 for more details.
We are determined to provide positive resale values and to this end, we have changed dramatically since 2010 to make a big difference to our products and services. We have a dedicated resales team to deal with all future resales and to achieve the best prices, we also maintain an extensive database of prospects who are looking to buy our properties in the desirable areas we have located ourselves in over the past four decades.
Living at Pen Morvah
Living in Bude
Bude is a great location for you to enjoy your retirement, a traditional coastal town with harbour and beautiful beaches in the town and beyond. A close-knit community is retained, yet balanced with a range of events and activities for both locals and tourists alike to enjoy throughout the year. There are a range of shops, supermarkets, a Post Office, coffee shops and doctor's surgery, which are accessible by foot or bus.
In or near Bude you will find a range of amenities including boutique shops, supermarkets, cafes and restaurants. There's also health and community services including hospital, doctor's surgery, dentist, pharmacy all in close proximity to the development.
There is plenty to do around the area with fantastic beaches including Bude, Widemouth and the National Trust owned Sandymouth Beach. Festivals including the famous Bude Jazz Festival and St Pirran's Procession. There are historic landmarks nearby including King Arthur's Castle in Tintagel, Hartland Abbey and in the town itself, Bude Castle.
- Conveniently situated close to these local amenities:
- The Coffee Shop
- Post Office
- Olive Tree Restaurant
The development is right in the heart of Bramble Hill, surrounded by the shops, cafés and restaurants on Queen Street and Belle Vue, both of which are just 0.2 miles away.
The local Co-op is 500 feet away from the development, as is Bude and North Cornwall Golf Club.
The coast is under 1 mile away and Summerleaze Beach is within walking distance.
Getting to Location
If you are using a Sat Nav system you may need the full address of this development. The postcode is newly created by Royal Mail and may not be accurate for some months.