Summary - THORNEY HOUSE FLAT 57 DRAKE WAY READING RG2 0GZ
1 bed 1 bath Apartment
Affordable 40% share in a modern one-bedroom with long lease and parking.
Top-floor one-bedroom apartment with Juliet balcony and modern bathroom
40% shared ownership available — 40% share price £68,000 (rent approx. £450.94pcm)
Extended lease on completion — approximately 972 years remaining
509 sq ft efficient layout; practical for first-time buyers or landlords
Allocated off-street parking space included
Estimated service charge ~£142.16 pcm (annual £1,705.92)
Local area shows higher crime rates and greater deprivation
Council tax band currently unspecified; eligibility criteria apply for shared ownership
This top-floor, one-bedroom apartment in Thorney House offers a low-entry route to homeownership via shared ownership. The 40% share option lets a buyer secure a modern second-floor flat for £68,000 (rent on remaining share approx. £450.94pcm), with an extended 972-year lease on completion and no onward chain.
Internally the apartment provides an efficient 509 sq ft layout: a spacious reception with Juliet balcony, separate compact kitchen, double bedroom and a modern bathroom. The interior’s contemporary finishes suit a first-time buyer seeking a ready-to-move-in home or a landlord looking for a straightforward rental unit. Fast broadband and allocated off-street parking add practical everyday benefits.
Buyers should factor in recurring costs and the local context. Estimated service charge is about £142.16pcm (annual average £1,705.92) plus rent on the unsold share; council tax banding is currently unspecified. The property sits in an area with higher-than-average crime rates and greater local deprivation, which may affect long-term resale or rental premiums.
Shared ownership eligibility rules apply for the 40% purchase option (income limits, sole residence, deposit requirements). Purchasing the full 100% at market value (£170,000) is also possible, removing shared-ownership restrictions. Overall this is a pragmatic, lower-cost entry into Reading with long lease security, but buyers should weigh service costs and neighbourhood factors before committing.
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