LIVING AT TONIC@BANKHOUSE
What is Bankhouse?
Bankhouse is a retirement community comprising of 84 apartments, across 14 floors, located on Albert Embankment in Vauxhall, Lambeth. Riverside, a social landlord have 59 rental apartments and 6 shared ownership apartments. Tonic own the remaining 19 apartments across the top four floors.
Bankhouse was designed as a retirement community by architects Foster + Partners and consists of high-quality one and two bedroom self contained apartments, many with balconies with stunning views. Bankhouse also has community spaces to meet with other people, a bar and restaurant, a community lounge overlooking the River Thames, a floating garden and a roof terrace with incredible views of central London, an overnight guest suite, a laundry room and bike storage. All areas of the building are fully accessible to wheelchair users.
Bankhouse has 24 hour on site staff and optional care packages from Care Outlook are available.
What is Tonic@Bankhouse?
Tonic is bringing our LGBTQ+ affirming offer to Bankhouse, with our on site Community Manager, who facilitates our resident-led events and activities programme, working alongside the other Bankhouse staff.
Tonic@Bankhouse are Tonic’s first properties. Tonic has 17 apartments to sell on a shared ownership basis and 2 for rental. Tonic is working in partnership with Riverside to ensure that our LGBTQ+ affirming approach is for all residents of Bankhouse, regardless of their tenure or landlord. Tonic has provided training for all the staff at Bankhouse to equip them with the knowledge and skills to provide quality care and support to older LGBTQ+ people.
What does LGBTQ+ affirming mean?
LGBTQ+ affirming means that our approach to services and support is not just be “LGBTQ+-friendly” but genuinely affirming of the lives, histories, needs and desires of LGBTQ+ people. The term does not imply exclusion of those who do not identify as LGBTQ+, but actively values those who respect and celebrate LGBTQ+ people.
What is a retirement community?
Retirement Communities combine high-quality housing options for older people with tailored support services. They allow residents to rent or own a property and to maintain their privacy and independence, with the reassurance of 24-hour on-site staff, communal facilities, and optional care and support as needed. Retirement Communities may also be referred to as retirement villages, extra care housing, housing-with-care, assisted or independent living.
What homes are for sale?
Tonic is currently selling one and two-bedroom apartments for Shared Ownership on the upper four floors of Bankhouse. Most of the apartments have balconies, with either river or city views. All apartments have a spacious open-plan kitchen, dining and living room with underfloor heating and are fully accessible. See our Tonic@Bankhouse website to see current availability of apartments and to book a viewing.
How much do the apartments cost to buy?
Prices start from £126,875 for a 25% share of a 1-bed apartment and £180,000 for a 25% share of a 2-bed apartment. These go up to £395,438 for a 75% share of a 1-bed apartment and £592,500 for a 75% share of a 2-bed apartment.
In addition to the purchase price, there will be a rent charged on any unsold equity up to 75% (the 25% always owned by Tonic will be rent free); a Service Charge and a Administration Fee. Tonic team members will explain all about these as part of the sales process, as well as provide fully detailed documents.
Can I rent an apartment at Bankhouse?
Yes. Tonic has now obtained planning consent to rent 2 apartments and Riverside is leasing these as the RP, until Tonic becomes an RP. The tenancy agreement will be with Riverside, and Tonic is the managing agent allocating the properties and being the main contact for residents.
Tonic had always intended to offer rental options, however affordable rented housing can only be provided by a Registered Provider of Social Housing (RP). Tonic applied to become an RP in 2021, but the process has been very lengthy as Tonic is a new housing provider. Tonic has an agreement with Lambeth Council and Riverside, that should any of the shared ownership properties remain unsold these could be rented, subject to planning consent.
Click here to read the FAQ’s on renting at Tonic@Bankhouse.
Am I eligible to live in a Tonic apartment at Bankhouse?
Bankhouse is a retirement community so there is an eligibility criteria that all purchasers must be 55 years old or over.
The Shared Ownership scheme has it’s own eligibility criteria, which you can read here. Our rental properties also have their own eligibility criteria, which you can read here.
How do I find out more information?
On the Tonic@Bankhouse website you can find photos of the apartments and building, information on pricing, eligibility criteria and all services information.
You can register your interest in Bankhouse directly here and then one of the Tonic team will be in touch with you within a few days. You can alternatively email info@tonichousing.org.uk, or telephone us on 0207 971 1091 and we can register your interest with you.
What if I am not eligible for Tonic@Bankhouse?
You can still register your interest in living@Tonic even if you are not eligible for the apartments at Bankhouse. Tonic intends to follow on from Bankhouse with further schemes, and telling us what you want and need is important to inform this. Being on our Register of Interest means we can contact you about future opportunities.
