Cheetah Chase, Colchester, Essex, CO3 8DA

Highlight Housing, The Affordable Homes Agency, working with Legal & General Affordable Homes, is pleased to present this two-bedroom Shared Ownership resale house in Colchester, Essex. The price shown represents purchasing a 30% share of the property, based on a full market value of £295,000.

Property overview

This attractive two-bedroom house offers well-proportioned accommodation arranged over two floors, making it an ideal choice for first-time buyers, couples or small families looking to step onto the property ladder through Shared Ownership.

The property extends to approximately 56 sq m (604 sq ft) and benefits from a practical layout, with a separate lounge, kitchen/diner, two bedrooms, a family bathroom and a convenient ground-floor Wc.

Upon entering the property, the entrance hallway provides access to the main living accommodation and staircase leading to the first floor.

The lounge measures approximately 2.86m x 4.24m (9'5” x 13'11”) and provides a comfortable space for relaxing and entertaining, with natural light from the front-facing window.

Positioned towards the rear of the property, the kitchen/diner measures approximately 3.91m x 2.66m (12'10” x 8'9”) and offers space for cooking and dining. The kitchen layout provides a range of worktop and storage areas, while double doors open to the outside, allowing natural light into the room.

A separate ground-floor Wc adds further convenience.

Upstairs, the first floor comprises two bedrooms and a family bathroom.

Bedroom one measures approximately 3.82m x 2.62m (12'6” x 8'7”) and provides comfortable accommodation for a double bed and additional bedroom furniture.

Bedroom two measures approximately 2.82m x 2.24m (9'3” x 7'4”) and offers flexibility as a second bedroom, nursery or home office.

The family bathroom is conveniently positioned off the landing, completing the first-floor accommodation.

With its practical layout, separate living and dining spaces and two well-proportioned bedrooms, this property offers an excellent opportunity for buyers seeking an affordable home in Colchester.

Financial breakdown

• Full Market Value: £295,000
• 30% Share Value: £88,500
• Rent on Unowned Share: £616.97 per month
• Estate Charge: £18.99 per month
• Buildings Insurance: £15.34 per month
• Management Fee: £46.19 per month
• Reserve Fund Payment: £0.00
• Other Service Charges: £0.00
• Total Monthly Payment (excluding rent): £80.52
• Total Monthly Payment (including rent): £697.49
• Lease Length: Approximately 116 years remaining
• Tenure: Leasehold

Larger shares may also be available, subject to affordability assessment.

For example, purchasing a 40% share would cost £118,000, with monthly rent of £528.83, while purchasing a 50% share would cost £147,500, with monthly rent of £440.69.

The rent is reviewed annually in accordance with the lease, using the Retail Prices Index (Rpi) plus 0.5%.

All financial information is based on the property's Key Information Document and should be confirmed before proceeding with a purchase.

Local area

Cheetah Chase is situated in Colchester, Essex, offering residents access to a wide range of local amenities, transport connections and recreational facilities.

Colchester is one of Britain's most historic cities, combining its rich heritage with modern shopping, leisure and entertainment facilities.

The city centre offers a variety of high street retailers, independent shops, cafés, restaurants and cultural attractions, including Colchester Castle and its surrounding Castle Park.

Residents can enjoy a range of nearby green spaces, parks and countryside walks, while the wider Essex countryside provides opportunities for outdoor activities and exploring the surrounding villages.

Colchester also benefits from a selection of primary and secondary schools, alongside the University of Essex.

For commuters, Colchester railway station provides regular services towards London Liverpool Street, making the area an attractive option for those travelling into the capital.

The nearby A12 offers road connections towards Chelmsford, Ipswich and London, while the A120 provides access towards Stansted Airport and other parts of Essex.

With its combination of local amenities, transport connections and access to green spaces, Colchester offers an appealing location for individuals, couples and families.

What is Shared Ownership?

Shared Ownership offers you the chance to buy a share of your home (usually between 25% and 75%) and pay rent on the remaining share. Later on, you could buy more shares of your new home when you can afford to and, if you chose, own the property outright. Monthly costs to purchase a home via Shared Ownership are generally less than purchasing outright or renting, making it a fantastic option to get onto the housing ladder.

Eligibility criteria

To be eligible for a home here you'll need to:

• Have a combined household income under £80,000 per annum
• Not already own a property, or part of a property, at the time of completing on your purchase
• Be unable to purchase a suitable home to meet your housing needs on the open market

If you don't meet the eligibility criteria for this development, you may still qualify for a shared ownership purchase at one of our others, so take a look at our website for more information.

About Highlight Housing

Highlight Housing, The Affordable Homes Agency, specialises in the sale and letting of affordable homes across the UK.

Working in partnership with Legal & General Affordable Homes, we help customers understand their options and guide them through the Shared Ownership process, from initial enquiry through to completion.

Shared Ownership disclaimer

Shared Ownership eligibility criteria applies. Images are indicative only. Council tax bands are often not released until the property is complete. If you need any guidance, please get in touch with our sales consultants.