Wayfarer House, Cole Avenue, Southend-on-Sea, SS2 6BT

Highlight Housing, The Affordable Homes Agency, working with Legal & General Affordable Homes, is pleased to present this two bedroom Shared Ownership resale apartment at Wayfarer House, Cole Avenue, Southend-on-Sea, SS2 6BT. The price shown represents purchasing a 75% share of the property.

Property Overview

Offering approximately 645 sq ft of well-planned accommodation, this attractive second-floor apartment combines modern open-plan living with two bedrooms and a private balcony.

The apartment opens into a welcoming hallway providing access to each of the principal rooms. At the heart of the home is the spacious open-plan kitchen and living area, measuring approximately 19'0” x 13'8”. The layout provides plenty of room for both relaxing and dining, with the fitted kitchen integrated into the living space.

A door from the living area opens directly onto the private balcony, creating valuable outdoor space and providing an ideal spot to relax during the warmer months.

The property offers two bedrooms, with the larger measuring approximately 11'11” x 10'8”. The second bedroom provides a flexible space that could be used as a bedroom, guest room or home office. A contemporary family bathroom completes the accommodation.

With its open-plan layout, private balcony and approximately 645 sq ft of living space, this apartment offers an excellent opportunity for buyers looking to purchase through Shared Ownership in Southend-on-Sea.

Financial Breakdown

• Full Market Value: £200,000
• 75% Share Value: £150,000
• Rent on unowned share: £184.29 per month
• Service Charge: £46.00 per month
• Estate Charge: £29.79 per month
• Buildings Insurance: £16.70 per month
• Management Fee: £46.19 per month
• Reserve Fund: £0.00 per month
• Total Monthly Payment (excluding rent): £138.68 per month
• Total Monthly Rent & Charges: £322.97 per month
• Lease Length: Approximately 993 years remaining
• Rent Review: Reviewed annually (Rpi + 0.5%)

Local Area

Cole Avenue is situated in Southend-on-Sea, offering convenient access to the city's wide range of shops, supermarkets, cafés, restaurants and leisure facilities.

Southend provides a good choice of local amenities alongside its well-known seafront, beaches and recreational attractions. The area also benefits from parks, open spaces and a range of schools and everyday services.

The property is well positioned for travel across Southend and the wider Essex area, with rail connections providing access towards London and convenient road links to surrounding towns.

What is Shared Ownership?

Shared Ownership offers a more accessible route to homeownership by allowing you to purchase a share of a property's value, while paying rent on the remaining share.

Over time, you may choose to buy additional shares in your home through a process known as staircasing. For this property, you can increase your ownership up to 100%. At 100% ownership, the property will remain leasehold and the Shared Ownership obligations will fall away.

Deposits and mortgage payments are based on the share purchased, meaning costs can often be lower than purchasing a comparable property outright.

Legal & General Affordable Homes is a Registered Provider delivering Shared Ownership homes and committed to creating well designed communities and supporting buyers throughout their home buying journey.

Eligibility Criteria

To be eligible for Shared Ownership, you will need to:

Have a combined household income of £80,000 or less.

Be unable to afford the deposit and mortgage payments required to purchase a suitable home outright.

You must also be a first-time buyer, a previous homeowner who can no longer afford to buy, forming a new household, an existing Shared Ownership customer looking to move, or a homeowner who cannot afford to purchase a new home that meets your needs. If you currently own a property, its sale must complete on or before completion of your Shared Ownership purchase.

This resale opportunity offers a more affordable and flexible route to purchasing an established home in Southend-on-Sea.

About Highlight Housing

We are The Affordable Homes Agency.

Finding an affordable home should not feel impossible. Highlight Housing exists to improve access to good-quality, safe, affordable homes for sale and rent across the UK, working with trusted housebuilders, housing associations, private sellers and landlords.

With over 15 years' experience across shared ownership, shared equity, mid-market rent and rent to buy, we provide clear, practical guidance that helps people understand what is genuinely within reach.

Our focus is on supporting individuals and families to move forward with confidence into a secure, well managed future home they can afford.

Shared Ownership Disclaimer

Shared Ownership is subject to eligibility, affordability checks and the terms of the lease. Rent is payable on the share not owned, along with any applicable service charges and other outgoings. Staircasing is subject to a valuation at the time of purchase and additional legal and valuation costs may apply. Priority may be given to applicants with a local connection. All information provided is for guidance only and does not form part of any contract.