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THE ATKINSON PLOT 71 at Manor Reach, Sprowston, Blue Boar Lane, Sprowston, Norwich, NR7

Shared Equity £225,000

Property Description

Key features

  • A premium home built to a very high quality and specification.
  • Compare all that we INCLUDE also the space,room sizes and value;you'll be impressed.
  • Houses have energy efficient under floor heating to the ground floor.
  • Built in Mirrored fronted wardrobes to most home styles.
  • Bathroom hand basin is set into a contemporary vanity unit which is wall hung as is the toilet.
  • Recessed LED downlights to Kitchen,Bathroom and En-suite.
  • Elongated shower cubicles to en-suites fitted with a pressurised shower.
  • Choice of luxury kitchens,with pelmet lights and cornice to most kitchens.
  • A polished chrome heated towel rail is fitted to all bathrooms and en-suites.
  • Quality flooring throughout.

Full description

Tenure: Leasehold

THE ATKINSON 915sq.ft Plot 71
Two bedroom First floor apartment with Garage and parking space. Entrance, 2 bedrooms, Kitchen, Livingroom / Dining area and Bathroom.

PART OF THE LOW COST HOUSING

What is a Shared Equity Property?
A Shared Equity Property is when the buyer purchases a share in the equity of a property and the remaining share of equity is owned by a separate person or organisation. The buyer can purchase the initial share with the aid of a mortgage and upon completion is granted a 125 year lease on the property. During the course of that lease, the buyer does not have to pay any form of rent on the remaining share of equity, whereas they would, had it been a shared ownership property.

If the buyer wants to sell the property, they are free to do so, but would only receive the market value of the share they own.

The buyer has the opportunity to purchase the remaining share of equity in the property, but only after a period of 5 years of owning the initial share. This is known as "staircasing".

How will the homes be sold?
Norfolk Homes will be selling the shared equity lease to the individual buyers and drafts of the leases have already been agreed with Broadland Housing Association, the owners of the remaining share of equity, in respect of both apartments and house (plot 14).

The Company's Solicitors, will deal with the granting of the shared equity leases to buyers and so will be issuing contract documents in the
usual manner.

On the date of legal completion of the sale of the shared equity lease to the buyer, completion of a transfer of the freehold or long lease of the property to Broadland Housing will take place. Therefore, Broadland Housing will be your landlord upon legal completion of the property. Under the terms of the agreement with Broadland Housing, 21 days notice must be served on them of the date it is intended to complete the sale of the shared equity lease. As a result, there will have to be a period of at least 21 days between exchange of contracts and legal completion.

Who qualifies for a shared equity property?
Prospective buyers must earn less than 60,000 (sixty thousand pounds) per household per annum and the property to be purchased must be their sole residence and they must not own any other property.

Please refer to Eligibility Criteria form. Click here for a downloadable pdf form.

Terms of the shared equity lease
The shared equity leases are based very closely on the Housing and Communities Agency Model Shared Ownership Lease which have been approved by the Council of Mortgage Lenders. The lease will be for a term of 125 years at a peppercorn* rent.



SPROWSTON

Sprowston is perfectly situated to access the bustling city centre of Norwich and for the surrounding, tranquil and beautiful countryside.
Sprowston merges with Norwich on the city's Northern edge. It's a very popular area to live in as it's only
3 miles from the city centre and yet heading out of Sprowston you are surrounded by rolling Norfolk countryside and soon enter into the famous Norfolk Broads which is part of the National Parks family.
Sprowston itself is mainly a residential area with the usual amenities one would expect to find in such a suburb; schools for all ages, local shops, sporting facilities and healthcare. A Park and Ride service to Norwich City centre is only a short walk from Manor Reach. There are other bus services too. Also close
by is a very conveniently situated large Tesco store.
Adjacent to Manor Reach is the stately Sprowston Manor Hotel. It's surrounded by a championship 18 hole golf course, resembling a park, it's beautiful - whether or not you are a golfer! The hotel is open to non residents and has spa and leisure facilities.
Norwich
Norwich is the most complete medieval city in England, bursting with cultural vibrancy; museums, art and music festivals, theatre, art-house cinema. Norwich is regularly voted as one of the UK's top ten shopping destinations. Most sports are catered for. It's the main commercial and transport link for the county.
The Broads and surrounding countryside
Within minutes of leaving Sprowston you are surrounded by some of Norfolk's most diverse countryside as you enter The Broads National Park, Britain's largest protected wetland with 200km of navigable rivers, woodlands and fens interspersed with picturesque villages. Enjoy sailing, fishing, cycling, walking and birdwatching in this special place and less than 20 miles away is the famous North Norfolk Coast with its
long sandy beaches.
You can see why Sprowston is a popular location in which to live!

Sales office opening hours are Thursday through to Monday 10am - 5pm, closing on Tuesday and Wednesday.

Listing History

Added on Rightmove:
04 November 2016

Nearest stations

  • Salhouse (2.5 mi)
  • Norwich (2.6 mi)
  • Brundall Gardens (4.3 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Norfolk Homes Ltd

Blue Boar Lane, Sprowston, Norwich, NR7

01603 950195 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Norfolk Homes Ltd

Blue Boar Lane, Sprowston, Norwich, NR7

01603 950195 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Salhouse (2.5 mi)
  • Norwich (2.6 mi)
  • Brundall Gardens (4.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Norfolk Homes Ltd

Blue Boar Lane, Sprowston, Norwich, NR7

01603 950195 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference atkin71. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Norfolk Homes Ltd. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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