60A Springfield Road, Bury St Edmunds, Suffolk, IP33 3AS

Highlight Housing, The Affordable Homes Agency, working with Legal & General Affordable Homes, is pleased to present this spacious two-bedroom shared ownership resale apartment in Bury St Edmunds, Suffolk. The price shown represents purchasing a 45% share of the property.

Property Overview

This well-proportioned two-bedroom apartment offers approximately 745 sq. ft. (69 sq. m.) of accommodation, featuring a spacious open-plan living area, two bedrooms, a family bathroom and a private balcony.

The property is accessed via an entrance hallway, which provides access to the principal rooms and additional storage.

The heart of the home is the generous open-plan kitchen, lounge and dining area, measuring approximately 17'0″ x 20'6″. This versatile space offers ample room for relaxing, dining and entertaining, with a fitted kitchen arranged along one wall and plenty of space for living and dining furniture.

Double doors from the living area lead onto a private balcony, providing an attractive outdoor space for relaxing.

The principal bedroom measures approximately 12'11” x 10'4″, offering comfortable accommodation with space for bedroom furniture.

Bedroom two measures approximately 12'9″ x 8'6″ and provides flexibility for use as a second bedroom, guest room or home office.

The accommodation is completed by a family bathroom, measuring approximately 7'3″ x 6'6″, with a bath, Wc and wash basin.

With its spacious open-plan layout, two well-proportioned bedrooms and private balcony, this apartment offers practical accommodation suited to first-time buyers, couples and smaller households.

Financial Breakdown

• Full Market Value: £250,000
• Share Available: 45%
• Share Purchase Price: £112,500
• Monthly Rent: £391.69
• Service Charge: £23.89 pcm
• Estate Charge: £30.43 pcm
• Buildings Insurance: £9.36 pcm
• Management Fee: £40.91 pcm
• Reserve Fund Payment: £60.95 pcm
• Total Monthly Payment (excluding rent): £165.54
• Total Monthly Rent and Charges: £557.23
• Tenure: Leasehold
• Lease Length: Approximately 121 years remaining
• Rent Review: Annually, Rpi + 0.5%

The property is available through Shared Ownership, with the opportunity to purchase a larger share, subject to eligibility and affordability.

Local Area

Situated on Springfield Road in the historic market town of Bury St Edmunds, Suffolk, the property offers convenient access to a wide range of local amenities, shopping facilities, leisure attractions and transport connections.

Bury St Edmunds is renowned for its attractive town centre, historic architecture and vibrant mix of independent shops, cafés, restaurants and established high street retailers.

The town is home to the popular Arc Shopping Centre, offering a variety of retail and dining options, alongside the Theatre Royal, The Apex entertainment venue and a selection of cultural attractions.

For those who enjoy spending time outdoors, the beautiful Abbey Gardens provide landscaped green space within the town centre, while the surrounding Suffolk countryside offers opportunities for walking, cycling and exploring.

The property is also conveniently positioned for access to local schools, healthcare facilities, supermarkets and other everyday services.

Bury St Edmunds railway station provides connections towards Cambridge, Ipswich and other regional destinations, while the nearby A14 offers road links towards Cambridge, Newmarket and Ipswich.

With its combination of historic charm, modern amenities and transport connections, Bury St Edmunds provides an attractive setting for buyers seeking convenient town living.

What is Shared Ownership?

Shared Ownership is a government-backed scheme designed to help eligible buyers purchase a home when buying outright may not be affordable.

You purchase a percentage share of the property, typically using a mortgage and deposit, and pay rent to the housing provider on the remaining share.

Over time, you may have the opportunity to purchase additional shares in your home through a process known as staircasing, potentially increasing your ownership to 100%.

Eligibility Criteria

To be eligible for Shared Ownership, applicants must generally meet the following criteria:

• Your household income must be £80,000 or less per year.
• You must be unable to afford to purchase a suitable property on the open market.
• You must be a first-time buyer, a previous homeowner unable to purchase again, an existing shared owner looking to move, or otherwise meet the relevant eligibility requirements.
• You must not own another property upon completion of your Shared Ownership purchase.

All applicants will be subject to eligibility and affordability assessments.

About Highlight Housing

Highlight Housing, The Affordable Homes Agency, specialises in helping people access affordable homeownership opportunities across England.

Working alongside housing providers, developers and industry partners, we support buyers throughout the early stages of their homeownership journey, helping them understand their options and navigate the Shared Ownership process.

Our aim is to make affordable homeownership more accessible, straightforward and transparent.

Shared Ownership Disclaimer

The information provided is intended as a general guide and does not form part of any offer or contract.

All property details, measurements, prices, rental payments and service charges are provided in good faith and should be independently verified before proceeding.

Monthly costs may be subject to annual reviews and increases in accordance with the terms of the lease.

Eligibility criteria, affordability assessments and mortgage availability apply. Buyers should seek independent mortgage and legal advice before committing to a purchase.

The purchase of a Shared Ownership property involves entering into a lease agreement, which sets out the rights and responsibilities of both the leaseholder and housing provider.

Photographs, floor plans and descriptions are provided for illustrative purposes only.