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- Sheepen Place, 50, Sheepen Place, Colchester, CO3 3LT
Sheepen Place, 50, Sheepen Place, Colchester, CO3 3LT
50, Sheepen Place, Sheepen Place, Colchester, CO3 3LT
Shared Ownership Flat
A well-presented one-bedroom ground floor apartment available through the Shared Ownership scheme, offering an excellent opportunity for first-time buyers to step onto the property ladder in a convenient and well-connected location. Built in 2006 and offered unfurnished, the home is in good decorative order throughout.
The property features a bright open-plan living/kitchen area, creating a sociable and practical main living space. Patio doors open directly onto a paved area and garden space, providing welcome outdoor access. The bedroom benefits from a built-in cupboard, with additional storage available in the hallway. A modern bathroom and gas central heating via a gas boiler add further comfort and efficiency.
This is a well-balanced home, ideal for those seeking their first home, convenience and outdoor space.
Key Features
- One-bedroom ground floor apartment
- Shared Ownership resale opportunity
- Open-plan living and kitchen area
- Patio doors leading to paving and garden area
- Built-in storage to bedroom and hallway
- Gas central heating via gas boiler
- EPC Rating C
Key Information
- Tenure: Shared Ownership
- Available Shares from: 70%
- Full Market Value: £135,000
- Share Value (initial purchase) from: £94,500
- Rent (on unsold equity): £0
- Service Charge: £127.52 per month
- Lease Length: A new lease of 99-years will be granted.
- Council Tax Band: B
- EPC Rating: C
Location
Ideally positioned for commuters and coastal living alike, the property is within walking distance of Colchester Train Station (approx. 10 minutes), providing direct links to London Liverpool Street in around 50 minutes, as well as Chelmsford and Ipswich in approximately 20 minutes. The coast is also within easy reach, with the sandy beaches of Frinton, Clacton and Walton around a 30-minute drive away. Road connections are excellent via the A12, A14 and M25.
Please note that there is no allocated parking however a parking permit is available with spaces on a first come first served basis. This sale will be completed via a surrender and re-grant, meaning the buyer will receive a new 99-year lease on completion.
Eligibility for Shared Ownership
In order to be eligible to purchase a Shared Ownership house or apartment, there are several general criteria you must meet:
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You must be at least 18 years’ old with a clean credit history
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Your annual household income must be less than £90,000 in London, or £80,000 outside of London
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You’re a first-time buyer, a previous homeowner that cannot afford to buy one now, or an existing shared homeowner
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You must not be in mortgage or rent arrears, demonstrate a good credit history and be in a position to afford the regular payments
Find out what you can afford
Unsure of how much you can afford to borrow towards the purchase of a home? Use our Affordability Calculator below to receive an assessment* of how much you’re likely to be able to borrow based on your income.
