Summary - FLAT 6, THORNEY HOUSE, DRAKE WAY RG2 0GZ
1 bed 1 bath Apartment
Low-cost entry to a modern, well-connected Reading location.
40% shared ownership option from £76,000 (full value £190,000)
Approx. 504 sq ft one-bedroom apartment, efficient layout
Very long lease — c.972 years remaining
Private off-street residents’ parking available
Service charge c.£2,053.80 pa (approx. £171.15 pcm)
Share rent c.£473.88 pcm; charges reviewed annually
No private garden; communal block with limited external space
Local area shows higher crime and indications of deprivation
This modern one-bedroom apartment offers an affordable route onto the property ladder via shared ownership, with a 40% share priced at £76,000 (full value £190,000). The flat is compact but efficiently laid out across approximately 504 sq ft, with an open-plan living/kitchen, a double bedroom and a contemporary bathroom — ready to occupy with only minor cosmetic updating likely required.
Practical benefits include long lease term (c.972 years), private off-street residents’ parking and mains gas central heating. Service charges are approximately £2,053.80 per year (c.£171.15 pcm) and the share rent is listed at £473.88 pcm; these ongoing costs and annual reviews should be factored into affordability calculations.
Location suits first-time buyers who prioritise transport links and local amenities: Reading station, Green Park and the M4 corridor are easily reached for commuting. Note the neighbourhood data: higher-than-average crime levels and indicators of area deprivation; buyers should consider personal safety and resale considerations when viewing.
The property has no private garden and sits in a multi-unit block with communal areas. Shared ownership eligibility criteria apply for the 40% purchase; the home is also available to buy outright for £190,000 if you do not wish to use the shared ownership route.
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