Empire Walk, Colchester, CO7 8FQ

Empire Walk, Alresford, Colchester, CO7
Shared Ownership – 40%
Share Available at £112,000
(Full Market Value: £280,000)

Offered to the market on a Shared Ownership basis, this well-presented two-bedroom home provides an excellent opportunity for buyers looking to take their first steps onto the property ladder. A 40% share is available to purchase for £112,000, based upon a full market value of £280,000, with the possibility of purchasing a larger percentage subject to eligibility and confirmation.

Property
The accommodation begins with an entrance into a spacious sitting room, a bright and comfortable reception space with a large front-facing window and staircase rising to the first floor. From here, an inner lobby provides access to a useful ground-floor W.C. and continues through to the kitchen/diner positioned across the rear of the property. The kitchen is fitted with a contemporary range of gloss-fronted units, contrasting work surfaces, integrated oven and gas hob, together with space for further appliances. There is ample room for a dining table and chairs, while a rear door provides direct access to the garden.

The first-floor landing provides access to two generously proportioned double bedrooms, with the principal bedroom particularly impressive in size and featuring attractive decorative wall panelling. Completing the accommodation is a modern family bathroom, fitted with a white three-piece suite comprising panel-enclosed bath with shower over and glass screen, wash hand basin and W.C.

Outside, the property benefits from an enclosed rear garden, providing a private outdoor space ideal for seating, entertaining and everyday use.

Location
Empire Walk is positioned within the popular village of Alresford, approximately six miles south-east of Colchester and conveniently placed for neighbouring Wivenhoe. The village offers a range of everyday amenities including convenience shopping and Alresford Primary School, while Alresford (Essex) Railway Station provides rail connections towards Colchester, with onward connections towards Chelmsford and London. Wivenhoe is within easy reach and provides a wider selection of independent shops, cafés, pubs and riverside walks, while Colchester offers extensive shopping, leisure and schooling facilities. Road users are also well positioned for access towards the A12, providing links along the Ipswich and London corridor.

Shared Ownership
Shared Ownership can provide a more accessible route into home ownership by allowing purchasers to buy a percentage of the property rather than funding its entire market value, with a mortgage and deposit generally required only against the share being purchased. Rent is then payable to Sparrow Shared Ownership on the remaining equity, with the opportunity to purchase further shares in the future through a process known as staircasing. As further shares are purchased, the rent payable on the remaining share reduces.

A 40% share is available at £112,000, leaving Sparrow with a 60% share valued at £168,000. The rent payable is £568.00 PCM on the remaining share is approximately £385 per calendar month; however, all parties should confirm this figure and any other (if applicable) service/estate charge prior to purchase, as the actual rent is governed by the existing lease and may differ.

Purchasers may also be able to acquire more than the advertised 40% share, subject to affordability, eligibility and confirmation from Sparrow. All interested parties are advised to satisfy themselves as to the Shared Ownership eligibility criteria and to instruct an appointed conveyancer to confirm the lease structure, rent, service or estate charges, staircasing provisions and any other associated costs before committing to the purchase.

Viewings are available strictly by appointment via Michaels Property Consultants, Wivenhoe.