Summary - Flat 25, Eastgate House, 118 Eastgate Street IP33 1YQ
1 bed 1 bath Retirement Property
One-bedroom over-60s apartment close to Abbey Gardens and town centre..
Ground-floor one-bedroom apartment, purpose-built over-60s development
A ground-floor one-bedroom apartment in a small, purpose-built over-60s development, set within walking distance of Bury St. Edmunds town centre and the Abbey Gardens. The layout is straightforward: entrance hall, sitting/dining room, kitchen, bedroom and shower room, plus communal gardens and seating outside.
The development offers practical communal amenities — a residents’ lounge, laundry room, daytime site manager and a 24-hour pull-cord alarm system — useful for independent living with added peace of mind. Off-street communal parking and well-maintained grounds add to everyday convenience.
There are some important practical considerations. The flat is compact at about 358 sq ft and the kitchen is dated and will benefit from modernization. Heating is by electric storage heaters and mains electricity, which can be more costly than gas alternatives. Service charges total about £3,271.32 per year and ground rent is £60 per year.
Crucially, the lease has approximately 63 years remaining (99 years from 1989, effectively 63–64 years now). That remaining term may limit mortgage availability — many lenders refuse to lend where leases fall below typical minimum thresholds. This property is therefore better suited to a cash buyer, a buyer who can secure a specialist mortgage, or someone comfortable with future lease-extension costs.
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