Summary - Herbert Way, Colchester CO4 9BG
2 bed 1 bath Terraced
Affordable starter with garden and parking in a quiet estate.
40% shared ownership — rent approx. £365 pcm on retained share
A modern two-bedroom mid-terrace offered on a 40% shared ownership basis, this home is aimed squarely at first-time buyers wanting an affordable step onto the ladder. The ground floor has a practical layout with a fitted kitchen, downstairs WC and a lounge/diner that opens by double doors onto a private rear garden with rear access. Off-street parking for two cars adds everyday convenience.
Upstairs there are two double bedrooms and a contemporary family bathroom. The property is compact but well planned across approximately 72 sq m (778 sq ft), making it straightforward to run and maintain. EPC notes indicate good energy-efficiency potential (rating improvement possible), which will help keep running costs lower.
Important practical points are the tenure and costs: this is leasehold shared ownership (40% share shown), with rent on the retained equity of about £365 pcm and a service charge of around £40 pcm (£480 pa). The lease length is long (118 years remaining) and staircasing to full ownership is reportedly available, though that incurs additional cost.
Set in a well-kept residential estate close to local shops, schools and transport links, the house suits a buyer seeking an affordable, low-maintenance starter home. Note it is a mid-terrace property in a suburban development, so buyers should expect typical party-wall arrangements and the neighbourly proximity of similar houses.
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