Summary - 19 FLAT B SPRING GARDENS SHANKLIN PO37 7AQ
1 bed 1 bath Ground Flat
Affordable retirement-option close to town and transport links.
Ground-floor one-bedroom flat, approximately 366 sq ft.
Suitable for over-60s via Homewise Lifetime Lease option.
Guide Lifetime Lease price £50,000; market value £75,000.
Long lease (c. 829 years) — verify with solicitor.
Electric storage heating; double glazing pre-2002.
Cavity walls assumed without insulation — potential upgrade needed.
Service charge £350; ground rent £20 per year.
Area classed as deprived with above-average crime rates.
This compact ground-floor flat in central Shanklin offers a manageable, low-maintenance base close to shops and the train station — suited to a single occupant or a retired couple seeking convenience. The layout includes a lounge with a separate kitchen area and one bedroom; the accommodation totals approximately 366 sq ft and is best judged in person for space expectations.
The property is being promoted with a Homewise Home for Life Lifetime Lease option for buyers aged 60+, with a guide Lifetime Lease price of £50,000 (market value £75,000). Typical savings for eligible purchasers range from 20–50% depending on age and circumstances; customers may purchase up to a 50% share to protect equity. Lease details are long (circa 829 years remaining) — solicitors should verify terms.
Practicalities: the flat has double glazing and electric storage heating, a below-average service charge (£350) and a small ground rent (£20). Notable negatives are the small overall size, electric heating (higher running costs than gas), assumed cavity walls without insulation, and an area classified as deprived with above-average crime — factors to consider for comfort, running costs and resale or letting prospects.
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