1-bedroom flat · CO2 7WE
For saleListed 258 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A good size retirement apartment for over 70's close to the city centre within a stylish development offering onsite facilities, lifts to all floors and perfect for independent living.
The property is on the second floor and this floor can be accessed via a lift and stair flight.
An entrance door leads to the entrance hall with a large storage cupboard containing the water heating system.
The lounge is a good size and has a double-glazed door and window leading to a balcony and a further door leading to the kitchen which is well equipped with integrated appliances including an oven, microwave, four ring hob with extractor and integrated fridge/freezer.
There is a large double bedroom again with a double-glazed door and window to a balcony area and a walk-in wardrobe which is shelved.
The wet room comprises a shower unit, vanity wash hand basin, WC, heated towel rail and emergency response pullcord. Outside The property benefits from communal grounds and a patio seating area.
Location The development is situated a short distance to the city centre and has a Sainsbury's Local nearby for day to day needs. Directions Please use postcode CO2 7WE for SatNav.
Important Information Council Tax Band – D EPC Rating - C Services - We understand that mains water, drainage and electricity are connected to the property.
Tenure - Leasehold Our ref - COL240594 Lease details - The property is held on a TBC year lease which commenced in 2019.
The service charge is approximately £780 per month including water and building insurance and the ground rent is £217 payable every six months.
These charges are for the current year and maybe subject to change, all information should be checked by your solicitor.
Agent's note The development is designed for 'independent living’ owners, and it is staffed 24 hours for emergency assistance cover.
There are certain criteria to be met, and the purchaser will be invited to a 'getting to know you' meeting prior to exchange of contracts.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Butt Road, Colchester, Essex, CO2
Explore nearby