If you’re considering buying a home at Fulton & Fifth, understanding the service charge is an important part of the buying process. Like any leasehold property, it covers the cost of managing and maintaining the building and its shared spaces. While newer developments often come with more resident facilities than older buildings, they’re also built to modern standards, which can help reduce maintenance costs in the early years compared with some older resale properties.
Below, we take a closer look at what the service charge at Fulton & Fifth includes, how it’s calculated, how it compares with other London developments, and why annual reviews are a standard part of leasehold ownership.
The current service charge at Fulton & Fifth is £3.96 per sq ft per annum, plus 83p per sq ft per annum for buildings insurance, giving a combined annual cost of £4.79 per sq ft. The total service charge is calculated according to the size of each apartment, so the amount payable will vary.
For context, the average service charge on a London flat in 2025 is was £2,801 a year according to data produced by Hamptons. However, if you look at current property listings for other modern apartment blocks around Wembley Park, service charges routinely run anywhere between £4.50 and £6.50+ per square foot. At Fulton & Fifth, the service charge includes access to a private indoor swimming pool, gym, yoga studio, co-working space, cinema room, golf simulator and a 24-hour concierge.
What does service charge actually cover?
Service charge is a pooled contribution that covers everything needed to run and maintain the building day to day. It isn’t one fee, it’s a collection of real, itemised costs, and at Fulton & Fifth, the largest of these are:
- Concierge and estate management staffing: This is the single biggest line in the budget. A 24-hour concierge team, an on-site Estate Manager, and dedicated security cover make up well over a quarter of total spend.
- Management fees: Covering the day-to-day administration of the building, accounting, and oversight by Arada London’s own Asset Management team.
- Cleaning: Including the cleaning contract for communal areas and a separate window cleaning programme for the building’s exterior.
- Utilities: Primarily electricity for communal areas, plant, and amenity spaces, plus water.
- Building safety systems: Including fire and life safety equipment servicing, lift maintenance, and statutory inspections.
- Landscaping: Keeping the podium gardens and communal outdoor space maintained through the seasons.
- Amenities: Including upkeep of the pool, gym equipment, and golf simulator.
Because Fulton & Fifth is managed in-house by Arada London’s own Asset Management team rather than an external third-party agent, costs are tracked block by block. Brookline, Parkside and Elmhurst each carry their own budget, so what residents pay reflects the actual running costs of their specific building rather than an estate-wide average.
Daniel Walters, Head of Asset Management, Arada London
“Our approach is simple: we only charge for what it actually costs to run the building well. Every line in the budget is tied to a real contract or a real service. Managing in-house means we stay close to those costs, and residents get full transparency on where their money goes.”
Naima Jannath, Head of Customer Care, Arada London
“Service charge conversations can feel daunting, but they shouldn’t. Every cost in the budget is there because it directly shapes the experience of living here — the team you see at the desk every morning, the gardens being looked after, the pool being ready to use. We want residents to feel confident about what they’re paying for, and we’re always here to talk through any questions.”
How is service charge calculated?
The calculation is simple: rate per square foot multiplied by the size of your apartment, run annually.
At Fulton & Fifth, that’s £3.96 per sq ft for service charge plus 83p per sq ft for buildings insurance, £4.79 per sq ft combined.
| Apartment | Size (sq ft) | Service charge | Insurance | Total per year | Per month |
| Manhattan studio | 472.4 | £1,871 | £392 | £2,263 | £189 |
| One-bedroom | 559.5 | £2,216 | £464 | £2,680 | £223 |
| Two-bedroom | 705.9 | £2,795 | £586 | £3,381 | £282 |
| Three-bedroom (Brookline) | 950.1 | £3,762 | £789 | £4,551 | £379 |
This figure is set as an estimate at the point of sale. As with every leasehold building in England, it’s reviewed annually against actual running costs and adjusted up or down accordingly.
How and when is your service charge paid?
You will usually pay an apportionment of your yearly service charge upfront as part of your completion funds. This is usually 6 months but can vary depending on what time of year you complete on your property purchase. If your apportionment ends up being more then the period of completion to the next payment date, then the excess will be credited back to your account.
After the initial payment, you will receive bills twice yearly for payment in July and January to cover your service charge and insurance payments. It is important that your contact details are kept up to date so your bills can be sent to you to avoid incurring any late fees.
How does this compare to other London new builds?
For context, Hamptons’ 2025 Service Charge Index puts the average annual service charge on a London flat at £2,801 (£233.45 a month), up 6.4% year on year and the highest of any UK region. Nationally, the average one-bed service charge is £2,074 a year, two-bed is £2,463, and three-bed is £3,146.
A basic block with no lift and minimal shared space will sit well below these averages. A fully amenitised building with concierge, gym, pool, communal gardens, and lift access costs more to run, and the charge reflects that. Hamptons’ data shows that developments with a lift alone carry a 16% service charge premium on average, and adding a concierge widens that gap further.
To put Fulton & Fifth’s rate in context, here’s how it compares with other large new build developments in and around North West London.
| Development | Estimated service charge |
| Fulton & Fifth | £3.96/sq ft (plus 83p insurance) |
| Wembley Park Gardens (Barratt London) | £3.46/sq ft |
| Hendon Waterside (Barratt London) | £3.99 to £4.88/sq ft |
| Grand Union (Berkeley/St George) | £3.75/sq ft |
| Brent Cross Town (Ashbee) | £5.88/sq ft |
At £3.96 per sq ft (plus buildings insurance), Fulton & Fifth sits at the more competitive end of this range. While some developments have a lower service charge, they typically offer fewer resident amenities. Fulton & Fifth includes a private indoor swimming pool, gym, yoga studio, cinema room, golf simulator, dedicated co-working space and a 24 hour concierge, offering strong value for a fully serviced development.
It’s also worth noting that flats with a service charge at or below 1% of the property’s value are 50% more likely to sell than those above 2%, a useful data point for anyone weighing service charge against long-term investment value rather than just the annual cost.
Can service charge increase?
Yes. Like all leasehold developments, service charges at Fulton & Fifth are reviewed annually to reflect the actual cost of operating and maintaining the building.
The service charge at Fulton & Fifth increased from £3.59 per sq ft in 2025 to £3.96 per sq ft in 2026, a rise of 37p per sq ft. For a typical one-bedroom apartment, that equates to an increase of approximately £207 a year.
It’s worth noting that 2025 was the building’s first operational year, when a number of costs, including lift maintenance contracts, recruitment, and certain maintenance works, were covered by the developer rather than through the service charge. The 2026 budget reflects the first full year of operating the building at full cost, following the arrival of residents.
This also reflects the wider market. Hamptons recorded a 6.4% year-on-year increase in average London service charges in 2025, driven by rising staffing costs, utilities, and insurance premiums across residential developments.
Leaseholders are also protected by legislation. Under the Landlord and Tenant Act 1985, service charges must be reasonable, and leaseholders have the right to challenge charges they believe are unreasonable through the First-tier Tribunal (Property Chamber). For major works, landlords must also follow a statutory consultation process where an individual leaseholder’s contribution exceeds £250, including obtaining contractor estimates and giving leaseholders the opportunity to comment before works proceed.
Who manages the building at Fulton & Fifth?
Fulton & Fifth is managed in-house by Arada London. Rather than appointing an external third-party managing agent, the company runs the building through its own Asset Management team, led by Daniel Walters, Head of Asset Management, with Naima Jannath, Head of Customer Care, overseeing resident support.
It’s a different model from the more common arrangement of handing day-to-day management to an outside agency, and it means the team setting the budget and overseeing the building’s upkeep is the same team that built it. Costs are managed block by block, so Parkside’s budget reflects Parkside’s actual running costs rather than an estate-wide average shared across every building.
As with any leasehold property, residents retain their statutory rights regardless of who manages the building day to day, including the right to challenge a service charge they believe is unreasonable through the First-tier Tribunal.
Frequently Asked Questions
1. What is the service charge at Fulton & Fifth?
The estimated service charge is £3.96 per sq ft per annum, plus 83p per sq ft for buildings insurance, a combined £4.79 per sq ft per year. The exact annual cost depends on your apartment’s size, ranging from around £2,263 a year for a Manhattan studio to £3,381 a year for a two-bedroom home.
2. What does the service charge at Fulton & Fifth include?
It covers 24-hour concierge and on-site estate management, cleaning of communal areas, utilities for shared spaces, buildings insurance, lift and safety system maintenance, and upkeep of the podium gardens and amenities including the pool and gym.
3. Is the service charge at Fulton & Fifth fixed?
No. Like all leasehold properties, it’s an estimate reviewed annually against actual running costs and can rise or fall accordingly. Any increase must be reasonable under the Landlord and Tenant Act 1985, and leaseholders can challenge charges they believe are unreasonable.
4. How does Fulton & Fifth’s service charge compare to other developments in Wembley Park?
Service charge varies widely depending on what’s included. Based on local Wembley listings, premium buildings with concierge and wellness facilities usually range between £3.50 and £6.50+ per square foot. Fulton & Fifth’s rate sits at the competitive lower end of that local scale while still offering a fully serviced, luxury experience.
5. Who manages the building at Fulton & Fifth?
The building is managed in-house by Arada London, through its own Asset Management team led by Daniel Walters, Head of Asset Management, with resident support overseen by Naima Jannath, Head of Customer Care.
