2-bedroom flat · CO1 2ZD
For saleListed 173 days
Opportunity summary
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About
CHAIN FREE--Grosvenor Place can be found at the bottom of East Hill within a short walk of Colchester's bustling city centre and historic Castle Park.
This beautifully appointed, two-bedroom, second floor apartment can be accessed via a lift and has a balcony to the front, from here picturesque views across the River Colne can be enjoyed.
This well-proportioned open planned residence benefits from gas radiator heating, double glazing, a contemporary fitted kitchen with a central island, two double bedrooms, an en-suite and a family bathroom.
Externally there is a secure gated allocated parking space and communal gardens. The development also benefits from an indoor10 metre heated pool, which is solely for the use of the residents.
The apartment can be found at the bottom of East Hill overlooking both the River Colne and Colchester's historic Castle Park.
The busy city centre can easily be reached where many shops, restaurants, theatres, and two cinemas can be found.
A short walk across the park will bring you to North Station with its direct link to Stratford and London in less than an hour.
HALL - 11'2'' x 3'10'' (3.4m x 1.2m) Cupboard, heater, security entry phone, telephone point.
LOUNGE/KITCHEN - 25'6'' x 10'8'' (7.8m x 3.3m) Wood effect flooring, two heaters, television and telephone points.
A range of cupboards and drawers under a worktop with glass splashbacks and wall mounted units above. One and a half bowl stainless steel sink and drainer with mixer tap.
Plumbing for washing machine, integrated fridge/freezer, dishwasher, recessed lighting. Cupboard housing boiler. Central island with breakfast bar and cupboards and drawers under.
Four ringed hob with extractor above. Two windows to rear, French doors to balcony. BEDROOM - 1 - 15' x 9'3'' (4.6m x 2.8m) Heater, telephone point, window to side.
ENSUITE - 5'9'' x 4'8'' (1.8m x 1.4m) Low level WC, wash basin with mixer tap, corner shower cubicle with shower above. Mosaic tiled splashbacks, drop light switch, extractor, window to side.
BEDROOM - 2 - 12'8'' x 7' (3.9m x 2.1m) Radiator, window to rear. BATHROOM - 7'4'' x 5'7'' (2.2m x 1.7m) Low level WC, wash basin with mixer tap, double ended panelled bath and shower above.
Mosaic splashback tiles, shaver point, extractor, drop light switch, recessed lighting. OUTSIDE - Secure gated allocated parking and communal garden.
AGENTS NOTE Ground rent £150 per annum - this increases to £300 after 25 years orf inception of lease / Service charge - £3,534.38 (2024) / 125 year lease - 104 years and 9 months remaining.
Local Authority - Colchester City Council. Broadband Availability - Superfast Broadband available with speeds of up to 80 Mbps (details obtained from Ofcom Mobile and Broadband Checker) - March 2024.
Mobile Coverage - It is understood that the best available mobile service in the area is provided by EE, Three, O2 & Vodafone. (details obtained from Ofcom Mobile and Broadband Checker) - March 2024.
Utilities - Mains Electric / Gas Fired Central Heating / Mains Water /Mains Sewerage Construction Type - We understand the property to be of Traditional Construction of brick Flood Risk - Data Taken from Gov.UK Flood Map - checked March 2024.
The property is at medium risk of flooding from surface water and very low risk of flooding from rivers and sea.
Planning Applications in the Immediate Locality - Checked March 2024 - We are not aware of any planning applications in the immediate locality.
MONEY LAUNDERING REGULATIONS - Please be advised that all purchasers will need to adhere to currents laws of money laundering and therefore will need to provide Boydens Estate Agents photographic identification and proof of residency identification before any transaction is started to comply with the legislation.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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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.
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