50% share retirement flat with communal facilities and garden views.
50% shared ownership for over-55s with manager/warden on site
A purpose-built first-floor retirement apartment offered as a 50% shared ownership in Chestnut Grange, built c.2012. The two-double-bedroom layout includes a generous master with built-in wardrobe, an open-plan living/dining room with a Juliet balcony overlooking well-kept communal gardens, and a modern shower room. On-site facilities include a restaurant, coffee shop, laundry, library, scooter/bike store and a manager/warden in the communal entrance; lift access is available.
Practical costs and ownership structure are the key considerations. The purchase price reflects a 50% share with an estimated monthly rental payment on the remaining 50% (indicative ~£225/month, subject to Trent & Dove approval). A service charge of £498.25 pcm covers communal services including heating via a communal boiler; buyers remain responsible for electricity and council tax. The lease has approximately 87 years remaining (started 2012).
This apartment suits an over-55 buyer seeking independent living with on-site support and social amenities, without the maintenance of a house. Important negatives to weigh: the property sits in a higher-crime, deprived area and broadband speeds are slow. The shared-ownership rental obligation and sizeable monthly service charge affect total monthly cost and resale considerations. Prospective buyers should confirm all figures and eligibility with Trent & Dove and seek legal advice on lease and shared-ownership terms before committing.
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