MapGuide price
£130,0001 bedroom apartment for sale
Turner Road, Colchester
Apartment
1 bed
1 bath
473 sq ft / 44 sq m
EPC rating: B
Key information
Features and description
- One bedroom
- Investment opportunity
- Lease hold
- Open plan living
- Allocated parking
- Balcony
- Close city centre
- Walking distance to station
- Close to all local amenities
- Low epc and council tax rating
OVERVIEW * GUIDE PRICE £130,000 - £150,000 *
This contemporary one-bedroom apartment, featuring an inviting balcony, is perfectly situated within walking distance of Colchester's North train station with mainline links to London's Liverpool Street, Colchester's General Hospital, and Highwoods Country Park. There is also easy access to the A12, and Colchester's historic town centre, as well as local shops, and amenities making it a prime investment opportunity for the buy-to-let market.
Currently available with no ongoing chain, this second-floor property is poised to generate an attractive rental yield, with a potential income of £900 monthly (£10,800 yearly).
The complex assures convenience and security with amenities that include an intercom entry system, lift access, dedicated bicycle and refuse storage, and the benefit of an assigned parking space.
LOCATION Turner Road is situated in a residential area that is also home to the Colchester General Hospital and the Colchester Community Stadium (also known as JobServe Community Stadium), where the local football team, Colchester United FC, plays their home games.
ENTRANCE HALL
OPEN PLAN LIVING ROOM 16' 1" x 11' 11" (4.9m x 3.63m)
BALCONY
KITCHEN 8' 9" x 7' 3" (2.67m x 2.21m)
BEDROOM 11' 6" x 10' 9" (3.51m x 3.28m)
BATHROOM 7' 0" x 5' 7" (2.13m x 1.7m)
When considering the purchase of a leasehold property with a 125-year term starting from June 2014, it's important to take into account the various costs associated with the lease-which in this case includes a rising ground rent and service charges. Here's a breakdown of the information you provided:
Ground Rent: £364 per annum. Since it's a rising ground rent, this amount is likely to increase at specified intervals detailed in the lease agreement.
Service Charges: £2,067.96 per annum. These charges typically cover the cost of maintaining common areas, building insurance, and other services provided by the landlord or managing agent.
The incremental increases in ground rent as stipulated in the lease agreement, coupled with the outcomes of the EWS1 review, could potentially restrict the ability to obtain a mortgage or other financing for this property.
This contemporary one-bedroom apartment, featuring an inviting balcony, is perfectly situated within walking distance of Colchester's North train station with mainline links to London's Liverpool Street, Colchester's General Hospital, and Highwoods Country Park. There is also easy access to the A12, and Colchester's historic town centre, as well as local shops, and amenities making it a prime investment opportunity for the buy-to-let market.
Currently available with no ongoing chain, this second-floor property is poised to generate an attractive rental yield, with a potential income of £900 monthly (£10,800 yearly).
The complex assures convenience and security with amenities that include an intercom entry system, lift access, dedicated bicycle and refuse storage, and the benefit of an assigned parking space.
LOCATION Turner Road is situated in a residential area that is also home to the Colchester General Hospital and the Colchester Community Stadium (also known as JobServe Community Stadium), where the local football team, Colchester United FC, plays their home games.
ENTRANCE HALL
OPEN PLAN LIVING ROOM 16' 1" x 11' 11" (4.9m x 3.63m)
BALCONY
KITCHEN 8' 9" x 7' 3" (2.67m x 2.21m)
BEDROOM 11' 6" x 10' 9" (3.51m x 3.28m)
BATHROOM 7' 0" x 5' 7" (2.13m x 1.7m)
When considering the purchase of a leasehold property with a 125-year term starting from June 2014, it's important to take into account the various costs associated with the lease-which in this case includes a rising ground rent and service charges. Here's a breakdown of the information you provided:
Ground Rent: £364 per annum. Since it's a rising ground rent, this amount is likely to increase at specified intervals detailed in the lease agreement.
Service Charges: £2,067.96 per annum. These charges typically cover the cost of maintaining common areas, building insurance, and other services provided by the landlord or managing agent.
The incremental increases in ground rent as stipulated in the lease agreement, coupled with the outcomes of the EWS1 review, could potentially restrict the ability to obtain a mortgage or other financing for this property.
Property information from this agent
About this agent
Established in 2006, John Alexander Estate Agents has stood out as a property company that goes beyond the norm. Our focus is on delivering exceptional customer service and world-class marketing, but our core emphasis lies in fostering meaningful relationships – be it with our valued clients or our dedicated staff. We pride ourselves on continuously pushing boundaries and setting industry standards. Understanding that the manner in which we conduct our work holds greater significance than the sheer volume of it, we prioritise quality over quantity. Rooted in a genuine commitment to people, we consider ourselves a people-centric company that happens to specialise in property dealings, and we are confident that we excel in this domain better than anyone else. A significant milestone for John Alexander Estate Agents occurred in December 2023 with the completion of the rebrand of Jackson & CO Property Sales. This strategic move involved merging Jackson & CO Property Sales with the existing John Alexander – Tiptree office. With the rebranding completed, John Alexander Estate Agents will now be operating under two distinct offices: John Alexander – Colchester and John Alexander – Tiptree. This expansion is indicative of our dedication to serving a broader client base and reaching new markets. Throughout our evolution and expansion, John Alexander Estate Agents maintains a customer-centric approach. This involves placing a strong emphasis on understanding and meeting the needs of clients. Whether assisting in property transactions or managing rental properties, we prioritise transparency, effective communication, and delivering results that exceed client expectations.
