A schedule of anticipated prices sent to leaseholders last month said new cladding would cost more than £2million.
Other costs included £20,000 for a waking watch, almost £40,000 for a new fire alarm system and more than £270,000 in “professional fees”.
Each leaseholder s share will depend on the size of their flat.
Alex s will be 5.92 per cent of the total – which would be £147,086, based on the estimates provided by Parkfords.
His £75,000 bill was only for the first six months of 2021. Further instalments were to be included in future service charges.
As terrifying as his bill was, he said, Other, bigger flats would have to pay even more.
In January, a 24-hour “waking watch” was ordered at a cost of £1,200 per day until new fire alarms were installed at a cost of £38,500. The building s owner is covering the costs for the time being, but they could eventually be passed on to leaseholders.
They have been warned that replacing the cladding and insulation will cost “multiple millions”.
One 30-year-old resident recalled her “absolute horror” at finding out.
“I had a panic attack, she said. “I couldn’t breathe. When it first started, so many of my worries were fixated on the financial impact. Now the fire alarms are being installed, they’re everywhere. Each time I see one, I’m reminded that the entire building could just go up in flames at any moment.