2 bed Flat For Sale £119,000
A two bedroom third floor luxury apartment for £119,000 at 35% shared ownership with option to increase ownership up to 100%.
Nestled within the sought-after Cocoa Works development, this newly constructed third-floor apartment offers a blend of contemporary living and rich historical charm. Once the site of Rowntree's chocolate factory on Haxby Road, The Cocoa Works seamlessly integrates modern comforts with the industrial legacy of its past.
Just an 8-minute stroll from York city centre, residents enjoy easy access to its quaint streets, historical landmarks, and vibrant attractions. The development has been built by the award winning Latimer, part of the Clarion Housing Group.
The apartment itself is thoughtfully designed, featuring two bedrooms and a west-facing orientation that invites ample natural light throughout the day. Upon entry, you're greeted by an inviting hallway adorned with a large utility and storage cupboard, complete with a washer/dryer for added convenience.
The heart of the home lies in the spacious open-plan kitchen, dining, and living area, where high ceilings and historic design elements create an atmosphere of timeless elegance. The contemporary kitchen boasts a sleek, handle-less design complemented by integrated Bosch appliances and finished in a sophisticated matt texture.
Large feature windows illuminate the space, casting warm light onto the lime-washed oak-effect flooring laid in a classic Herringbone pattern. The result is a harmonious blend of modern luxury and historic character, offering residents a truly unique living experience.
Completing the apartment is a stylish bathroom adorned with Vado brassware in a striking matt black finish. A Crittall-style shower screen adds a touch of industrial chic, while the bath features sleek matt black framing and a Vado thermostatic overhead and handheld shower for indulgent relaxation.
Reservation Deposit £300
Lease Length 250 Years
Service Charge Approximately £3.50 Per Sqft Per Annum (subject to change and based on the running costs of the building)
Ground Rent £0
Warranty Checkmate
The purchase price of £119,000 is based upon a RICS valuation of £340,000 for 100%. A rent of approximately £507 per month on the remaining
Shared ownership offers several advantages:
Affordability: Shared ownership allows individuals to purchase a percentage of a property, making it more accessible to those who may not be able to afford to buy a home outright. This flexibility enables buyers to start with a share they can afford and gradually increase their ownership over time.
Lower Deposits: Typically, deposits for shared ownership properties are lower compared to traditional home purchases. This lower upfront cost can make it easier for buyers to get onto the property ladder.
Reduced Mortgage Amount: Since you're only financing a percentage of the property's value, your mortgage amount is also lower, which can result in lower monthly mortgage payments.
Gradual Ownership Increase: Shared ownership allows buyers to increase their ownership stake in the property gradually. This gradual increase can be beneficial for those whose financial situation may improve over time.
Deferred Stamp Duty: Stamp duty payments can often be deferred until the buyer's ownership share reaches a certain threshold, typically around 80%. This can help reduce initial costs for buyers.
Lower Rent on Unowned Share: Buyers only pay rent on the portion of the property they don't own, and this rent is often set below the market rate. This can further reduce housing costs and make shared ownership more affordable.
New-Build Benefits: Shared ownership properties are often new builds, equipped with the latest technologies, fixtures, and fittings. This can lead to lower maintenance costs and energy bills compared to older properties.
Overall, shared ownership offers a more flexible and affordable pathway to homeownership, particularly for those who may struggle to afford a property through traditional means.
Nestled within the sought-after Cocoa Works development, this newly constructed third-floor apartment offers a blend of contemporary living and rich historical charm. Once the site of Rowntree's chocolate factory on Haxby Road, The Cocoa Works seamlessly integrates modern comforts with the industrial legacy of its past.
Just an 8-minute stroll from York city centre, residents enjoy easy access to its quaint streets, historical landmarks, and vibrant attractions. The development has been built by the award winning Latimer, part of the Clarion Housing Group.
The apartment itself is thoughtfully designed, featuring two bedrooms and a west-facing orientation that invites ample natural light throughout the day. Upon entry, you're greeted by an inviting hallway adorned with a large utility and storage cupboard, complete with a washer/dryer for added convenience.
The heart of the home lies in the spacious open-plan kitchen, dining, and living area, where high ceilings and historic design elements create an atmosphere of timeless elegance. The contemporary kitchen boasts a sleek, handle-less design complemented by integrated Bosch appliances and finished in a sophisticated matt texture.
Large feature windows illuminate the space, casting warm light onto the lime-washed oak-effect flooring laid in a classic Herringbone pattern. The result is a harmonious blend of modern luxury and historic character, offering residents a truly unique living experience.
Completing the apartment is a stylish bathroom adorned with Vado brassware in a striking matt black finish. A Crittall-style shower screen adds a touch of industrial chic, while the bath features sleek matt black framing and a Vado thermostatic overhead and handheld shower for indulgent relaxation.
Reservation Deposit £300
Lease Length 250 Years
Service Charge Approximately £3.50 Per Sqft Per Annum (subject to change and based on the running costs of the building)
Ground Rent £0
Warranty Checkmate
The purchase price of £119,000 is based upon a RICS valuation of £340,000 for 100%. A rent of approximately £507 per month on the remaining
Shared ownership offers several advantages:
Affordability: Shared ownership allows individuals to purchase a percentage of a property, making it more accessible to those who may not be able to afford to buy a home outright. This flexibility enables buyers to start with a share they can afford and gradually increase their ownership over time.
Lower Deposits: Typically, deposits for shared ownership properties are lower compared to traditional home purchases. This lower upfront cost can make it easier for buyers to get onto the property ladder.
Reduced Mortgage Amount: Since you're only financing a percentage of the property's value, your mortgage amount is also lower, which can result in lower monthly mortgage payments.
Gradual Ownership Increase: Shared ownership allows buyers to increase their ownership stake in the property gradually. This gradual increase can be beneficial for those whose financial situation may improve over time.
Deferred Stamp Duty: Stamp duty payments can often be deferred until the buyer's ownership share reaches a certain threshold, typically around 80%. This can help reduce initial costs for buyers.
Lower Rent on Unowned Share: Buyers only pay rent on the portion of the property they don't own, and this rent is often set below the market rate. This can further reduce housing costs and make shared ownership more affordable.
New-Build Benefits: Shared ownership properties are often new builds, equipped with the latest technologies, fixtures, and fittings. This can lead to lower maintenance costs and energy bills compared to older properties.
Overall, shared ownership offers a more flexible and affordable pathway to homeownership, particularly for those who may struggle to afford a property through traditional means.
