Background and Property Values
The properties at Waterside Gate were placed on the market for the first time by the developer in 2002.
Each property is freehold. Each property owner holds a share in Waterside Gate (Maidstone) Management Company Limited, which manages the communal areas of the community complex.
Whilst some properties have resold since, others have remained with their original owners since they were first purchased.
The owners of properties at Waterside Gate, under the professional direction of three reputable estate agents in the town, have decided to publish this page in order to combat the confusion being created by the inaccurate values displayed on Zoopla.
Zoopla management has explained that their valuations are calculated utilising their own algorithms which encompass market trends for each catchment, historic sale values and subject to the information in their possession, or supplied by property owners.
In the first instance there was a unique and unfortunate historic circumstance where a few properties were sold off at less than market value; and this has distorted Zoopla’s starting points when applying their algorithms. This in turn has had an unjustified knock-on effect when comparing market values to similar properties within the area.
In addition Zoopla has never accounted for the value of those properties with freehold moorings and those without.
It is also the case that information relating to upgrades to individual properties by their owners has been sporadic, when it comes to informing Zoopla.
The outcome is that values displayed on Zoopla appear to have unexplained disparities.
Having consulted with three experienced and established agents within the town the values of the properties as at January 2017 are:
1 & 2 Waterside Gate
3 bedroom semi-detached two-storey properties, within the development, but with no river frontage
£270,000.00 – £275,000.00
3 – 14 Waterside Gate (11 properties, as number 13 does not exist)
3 bedroom river front three-storey town houses
£375,000.00 – £425,000.00
• The following properties have freehold moorings
Number 5 – 2 moorings side by side
Number 7 – 1 mooring
Number 8 – 1 mooring
Number 10 – 1 mooring
Number 14 – 1 mooring
Each freehold mooring carries a value of between £20,000.00 – 25,000.00.
• Number 3 Waterside Gate has undertaken significant upgrades, including a loft conversion.
• Numbers 3 and 14 are end of terrace.
• The above valuation ranges have taken into consideration that the internal and external condition of each property varies.