Studio for sale

£137,500

High Street, Colchester CO1

Studio for sale 1 1
Interested in this property? Call +44 1206 899055 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Free Legal Fees worth £1,400 (Terms Apply)
  • Help to Buy Available, subject to terms and conditions
  • Generously Sized Living/Bedroom Space
  • Central Thriving High Street Location
  • Underfloor Heating and LED Lighting
  • Close to Shops, Bars, Restaurants and Castle Park
  • Attractive and Furnished Communal Entrance Hall with Security Doors
  • Lift Available to All Floors

Property description


Summary
* * * free legal fees and parking options * * * Anticipated gross yields in the region of 5.6% to 6.2%. Centrally located for Town Centre, Castle Park and Railway Station Access. All remaining plots available with help to buy and other incentives available, Terms Apply.

Description
An exciting new development comprising of 35 contemporary one bedroom and studio apartments spread across four storeys with a lift available to all floors. Located centrally to Colchester's bustling town centre which offers a wide variety of shopping facilities, bars, coffee shops and boutique stores. The 140 development benefits from being close to the both the Town and North Railway Stations allowing you to be in London Liverpool Street within an hour* and a short stroll away from Colchester Castle and open parkland. London Stansted Airport is around 30 miles away. The A12 also connects you to central London, which is just over 60 miles away as well as linking up with the M11 and M25.

Communal Hallways
Glazed external double doors with fob / audio entry system Entrance Lobby with lockable post boxes Inner security doors with fob entry system Lift to all floors.

Spacious Landings
Furnished and artwork for a superior finish.

Personal Entrance Door To:

Open Plan Living / Dining
Generously sized space to enjoy living and dining with family and friends, Built-in mirror fronted sliding wardrobe.

Fully Fitted Kitchen
aeg electric fan oven aeg ceramic hob with glass splash back elica hidden extractor with light and fan speed control over hob aeg microwave beko Integrated fridge/freezer, washer/dryer and
dishwasher (dishwasher excluded from Studios) nobia base and wall handless units, all doors & draws with soft close in Luna white nobia laminated 'Nebraska Oak' top and upstand plus LED down lights undercupboard athena single drainer sink with marlin pull-out spray tap

Porcelanosa Shower Room Suite
porcelanosa white ceramic basin with single lever mixer tap and click waste set on a vanity unit with laminated 'Nebraska Oak' top and storage under. Mirror over porcelanosa white ceramic back to wall WC with soft close white seat, chrome double push button flush panel and concealed cistern porcelanosa white shower tray with glazed panels and electric wall mounted shower unit.

External Areas
Bin and Cycle store to rear of development.

General Internal Specification
Door entry audio system Carpeted communal areas LED downlights throughout White panel doors
with brushed chrome ironmongery, matching wrapped door-lining, architraves and skirtings The homes at 140 offer traditional exteriors with contemporary internal design and finishes. The
development offers 35 brand new studio and one bedroom apartments, located in Colchester's
bustling town centre. 10 year CML approved home buyers warranty from International Construction Warranties *Please note Nebraska Oak is the name of the work top. The work top is not solid Oak.
Fitted wardrobe with mirrored sliding doors Floors finished in Plusfloor wood effect vinyl icrobeveled planks Electric underfloor heating with area thermostatic controls Television and telephone points to living area and master bedroom usb charging points in kitchen, bedroom and living room Virgin Media available Smoke alarm and CO2 detector

Leasehold / Service Charges
125 Year Lease
Ground Rent 0.1% of Purchase Price per annum (£137.50)
Service Charge £429.69

Investment Opportunity
Our Lettings Manager (Richard Baker has appraised all of the new apartments and appraised this units rental income to be £650PCM equating to a gross yield of 5.6%.

For Further Information please contact us.

Ready To View?
Call Connells today on or email:

Free Legal Fees
This incentive is offered based on the asking price being paid and further details are available in branch.

Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Property info

Floorplan(s): Floorplan 1

View original

Property value data/graphs for CO1

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £335,471 £272 3.4 £337,826
Semi-detached £260,577 £285 2.9 £268,781
Terraced £220,180 £281 2.6 £213,863
Flats £174,231 £278 1.8 £151,269

Current asking prices in CO1

Average: £219,502
Avg. current asking prices in CO1
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses - £202,674
(43)
£268,882
(34)
£427,500
(6)
£386,667
(3)
Flats £130,596
(31)
£192,306
(49)
£273,333
(3)
£200,000
(1)
-
All £130,596
(31)
£197,152
(92)
£269,243
(37)
£395,000
(7)
£386,667
(3)

Current asking rents in CO1

Average: £781 pcm
Avg. current asking prices in CO1
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £462 pcm
(5)
£801 pcm
(12)
£922 pcm
(6)
£1,300 pcm
(1)
£1,898 pcm
(2)
Flats £639 pcm
(27)
£826 pcm
(27)
£1,115 pcm
(3)
- -
All £611 pcm
(32)
£818 pcm
(39)
£986 pcm
(9)
£1,300 pcm
(1)
£1,898 pcm
(2)

Fun facts for CO1

Highest value in CO1
Highest value streets Zed-Index
Riverside Place £440,564
Pavilion View £373,226
Rouse Way £357,362
Bury Close £346,326
Castle Road £341,159
Highest turnover in CO1
Highest turnover streets Turnover
Orchard Road 66.7%
Connaught Close 44.4%
Pavilion View 42.9%
Albert Street 42.4%
Bury Close 42.1%
Arrange Viewing

For more information about this property, please contact
Connells - Colchester, CO1 on +44 1206 899055 * (local rate)

Monthly running costs Beta

£707 Monthly total

Home Insurance

Contents value up to £75,000 Average insurance cost £8/mo (£101/yr)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.

Source: Autonet Insurance Ltd

Energy

Gas £16 Electricity £27 Estimated energy cost £43/mo

Similar properties could save up to £235

How Much Could I Save? In partnership with uSwitch
Energy costs explained

The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.

Estimated consumption

Gas: 5700 kWh/year
Electricity: 1800 kWh/year

Source: National Energy Efficiency Data Framework

Council Tax

Local authority

Colchester

Estimated tax band A Council tax cost £106 /mo
when paid over 10 months
Council tax costs explained

The Council Tax cost displayed is based on the council tax band and on the basis of 2 adults living at the property. The monthly cost shown excludes any discounts and is rounded to the nearest pound.

Full information on Council Tax discount entitlements can be found on the Gov.UK’s website.

Water

Supply £10 Sewerage £16 Estimated water cost £26 /mo
Water costs explained

Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.

Total annual consumption (in cubic meters) is then averaged into a monthly cost.

Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.

Contact Connells - Colchester about this property

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Connells - Colchester, and do not constitute property particulars. Please contact Connells - Colchester for full details and further information. The Running Costs data displayed on this page are provided by Homes24 to give an indication of potential running costs based on various data sources. Homes24 does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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