New shared ownership homes in Colchester City

Launching on Wednesday 13th July is Abbey Corner by Peabody, an impressive collection of two and three bedroom houses all available to purchase through Shared Ownership in Colchester. The development allows those looking to purchase their own home to do so without the need for a big deposit, this is done by purchasing the share of the property they can afford (starting from 30%) and paying a reduced rent on the remainder.

The launch kicks off on the 13th July with an exclusive webinar event, offering customers an overview of the development and floorplans for each of the houses, along with how to buy their new build home with Peabody through Shared Ownership.  There will be an opportunity for any questions at the end of this and time to book in a 1-2-1 virtual viewing from Saturday 16th – Tuesday 19th July – this private session will allow each customer time to explore the two 3 bed show homes walkthroughs and reserve their dream home.

Andrew Peglau, Assistant Director of Marketing at Peabody comments: “Abbey Corner provides purchasers with an excellent opportunity to live close to everything Colchester has to offer in a beautiful brand-new house.  The Shared Ownership offering makes home ownership a reality, allowing buyers to purchase a share of a property and pay rent on the rest, with the opportunity to buy further shares, to in-turn have outright ownership. This is a much sought-after area of the town, and, with the modern design of each property and high-quality interiors, we anticipate a strong interest in Abbey Corner and encourage buyers to register their interest as soon as possible to avoid missing out.”

Colchester has enjoyed a range of new investment in recent years, securing £50 million improvement plan by Colchester council.  This includes a strong package of investment programmes and projects around active travel, employment and skills, regeneration, young people, heritage and culture, making this an ideal time to enter the local property market.

The spacious layouts of each house and scenic development setting will make Abbey Corner an appealing place to live for a range of buyers, from young families to first-time buyers. For those looking for Saturdays filled brunching with friends to lazy Sundays of barista coffees, Colchester offers it all.  Just a short walk from your home will bring you to arts and culture, music venues and boutique cafes and restaurants.

Young families will also benefit from its proximity to numerous well-regarded local schools, including the Ofsted ‘outstanding’ rated Hamilton Primary School which is within walking distance of Abbey Corner, as well as a further seven ‘good’ rated primary and secondary schools within a mile of the development.

Homes at Abbey Corner feature both private and communal green areas as well as dedicated parking spaces. Sustainability has been carefully considered throughout the development with electric vehicle charging points to certain homes as well as energy-efficient insulation and double-glazed windows to all homes. Cyclists can make the most of the many off-road cycle paths that surround the development thanks to cycle storage units built into the outside storage space of each house.  The houses offer buyers different living layouts with The Heath and The Hazel having a ground floor bedroom and every home designed with a spacious open plan kitchen/dining area.  The interior design to each home at Abbey Corner is finished to the highest standard, with fully fitted bathrooms and kitchens featuring Zanussi and Bosch appliances and contrasting laminate flooring, allowing movers to immediately make themselves at home.  The bedrooms come with plush soft pile carpets, offering that level of warmth and comfort under foot.

For those looking to make the most of the great outdoors, residents at Abbey Corner won’t be disappointed.  At the centre of the development is a scenic landscaped garden with children’s play area and just a three minute walk away is Abbey Field, a large open green space that hosts many of Colchester’s regular community events.  Castle Park has something for every age group, the play park, bouncy castle, crazy golf and boating lake are a real hit with the young (and the young of heart).  The bandstand, gardens and museums can be enjoyed by all.  For sport enthusiasts Colchester’s Sports Park provides both indoor and outdoor sports and leisure activities to get active and includes a state-of-the-art clubhouse overlooking the latest synthetic and grass pitches which is the home of Colchester Rugby Football Club.

Transport connections are excellent at Abbey Corner, within walking distance is a bus stop fronting the development which provides direct access to Colchester town centre via the 64/64a bus. For car users, Abbey Corner is near the A12 which provides convenient links to Ipswich to the north and Chelmsford to the southwest, as well the M25. For commuters looking to travel into Central London by train, Colchester Town station is less than a mile away with connections to Stratford in East London and fast trains to London Liverpool Street in just over an hour.  For those heading north, Ipswich can be reach in around 40 minutes. Air travel is also easily accessible via Southend or Stanstead airports both under an hour.

Prices at Abbey Corner start from £112,500 for a 30% share of a two bedroom house and from £127,500 for a 30% share of a three bedroom house.  Under the Shared Ownership scheme offered by Peabody, home-movers can secure their home with a minimum deposit of 10% for an initial share between 30% and 75% of the value of a property and take out a mortgage for the value of that share. Rent is then payable on the remaining share at a set market rate. Buyers have the option to purchase the full property or increase the size of their share later if they wish, known as Staircasing.