2 Bed Flat, Single Let, Colchester, CO1 2ZD, £230,000

18 Grosvenor Place, Colchester, Essex, CO1 2ZD - 10 months ago

Sold STC
Leasehold
BTL
102 m²
+12 photos

ValuationUndervalued

Sold Prices£90K - £268K
Sold Prices/m²£1.5K/m² - £3.9K/m²

 

 

Square Metres

102 m²
Price/m²£2.3K/m²

Value Estimate

£270,818
BMV18%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£57,500

Stamp Duty & Legal Fees

£8,100

Total Cash In

£65,600

 

 

Cash Out

 

Rent Range

£775 - £2,850

Rent Estimate

£900

Running Costs/mo

£919

Cashflow/mo

£-19

Cashflow/yr

£-225

Gross Yield

5%

Local Sold Prices

50 sold prices from £90K to £268K, average is £160.5K. £1.5K/m² to £3.9K/m², average is £2.6K/m².

PriceDateDistanceAddressBeds 
£217.5K04/210 mi49, Grosvenor Place, Colchester, Essex CO1 2ZD2
£170K03/210 mi14, Grosvenor Place, Colchester, Essex CO1 2ZD2
£197.5K03/230 mi29, Grosvenor Place, Colchester, Essex CO1 2ZD2
£240K10/220.01 mi22, Grosvenor Place, Colchester, Essex CO1 2ZD2
£245K05/210.04 miFlat 25, The Mill Apartments, East Street, Colchester, Essex CO1 2QT2
£197.5K02/230.08 mi32, Rouse Way, Colchester, Essex CO1 2TT2
£250K07/230.08 mi25, Rouse Way, Colchester, Essex CO1 2TT2
£175K06/210.08 mi24, Rouse Way, Colchester, Essex CO1 2TT2
£200K03/210.08 mi26, Rouse Way, Colchester, Essex CO1 2TT2
£185K02/230.08 mi17, Rouse Way, Colchester, Essex CO1 2TT2
£143K12/200.24 mi106, St Andrews Gardens, Colchester, Essex CO4 3EH2
£190K09/220.24 mi4, York Place, Colchester, Essex CO1 2RF2
£145K02/210.29 mi15, St Augustine Mews, Colchester, Essex CO1 2PF2
£167K11/220.3 mi30, Ratcliffe Court, Colchester, Essex CO4 0AZ2
£162K05/210.34 mi12, Saw Mill Road, Colchester, Essex CO1 2ZQ2
£150K01/210.36 mi141, George Williams Way, Colchester, Essex CO1 2JR2
£176K07/230.36 mi139, George Williams Way, Colchester, Essex CO1 2JR2
£171K12/220.36 mi191, George Williams Way, Colchester, Essex CO1 2JR2
£161K08/210.4 mi78, George Williams Way, Colchester, Essex CO1 2JZ2
£146.5K01/210.4 mi42, George Williams Way, Colchester, Essex CO1 2JZ2
£150K06/210.4 mi24, George Williams Way, Colchester, Essex CO1 2JZ2
£150K11/200.4 mi5, George Williams Way, Colchester, Essex CO1 2JP2
£159K05/210.4 mi81, George Williams Way, Colchester, Essex CO1 2JP2
£150K03/210.41 mi101, Nicholsons Grove, Colchester, Essex CO1 2XT2
£160K09/220.42 mi45, George Williams Way, Colchester, Essex CO1 2JP2
£155K03/210.43 mi154, Ipswich Road, Colchester, Essex CO4 0AF2
£140K12/200.43 mi140a, Ipswich Road, Colchester, Essex CO4 0AF2
£90K05/210.44 mi5, The Dell, Colchester, Essex CO1 2YH2
£158.5K01/210.44 mi13, King Cole Place, Colchester, Essex CO4 0BA2
£137K06/230.46 mi12a, Rayleigh Close, Colchester, Essex CO4 0AT2
£180K08/230.46 mi14, Rayleigh Close, Colchester, Essex CO4 0AT2
£145K12/200.46 mi7a, Rayleigh Close, Colchester, Essex CO4 0AT2
£182K07/230.46 mi4, Tarrett Drive, Colchester, Essex CO1 2NJ2
£140K03/210.47 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£140K03/210.47 mi155, Hythe Hill, Colchester, Essex CO1 2NG2
£165K05/210.47 mi156, Hythe Hill, Colchester, Essex CO1 2NG2
£268K10/210.47 mi25, Hythe Hill, Colchester, Essex CO1 2NB2
£165K06/230.51 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£120K01/210.51 mi18, Haddon Park, Colchester, Essex CO1 2GX2
£110K07/210.54 mi10, Suffolk Close, Colchester, Essex CO4 0AY2
£102.5K07/230.54 mi26, Suffolk Close, Colchester, Essex CO4 0AY2
£165K06/210.55 miFlat 5, Ravenswood, New Town Road, Colchester, Essex CO1 2EG2
£148K06/230.61 mi7, Alyssum Walk, Colchester, Essex CO4 3RW2
£163.5K10/200.7 mi9, Cooper Walk, Colchester, Essex CO4 3RU2
£150K03/210.71 miFlat 25, Stuart House, St Peters Street, Colchester, Essex CO1 1BQ2
£156.5K06/230.71 miFlat 30, Stuart House, St Peters Street, Colchester, Essex CO1 1BQ2
£165K05/230.73 mi20, Dewberry Close, Colchester, Essex CO4 3RT2
£145K09/210.75 miFlat 19, Charles House, St Peters Street, Colchester, Essex CO1 1BY2
£162K10/210.75 miFlat 18, Charles House, St Peters Street, Colchester, Essex CO1 1BY2
£150K11/220.75 mi30, Nunns Road, Colchester, Essex CO1 1EJ2

Local Rents

50 rents from £775/mo to £2.9K/mo, average is £1.1K/mo.

RentDateDistanceAddressBeds 
£1,15003/240 miGrosvenor Place, Colchester2
£1,15004/240 miGrosvenor Place, Colchester2
£1,35003/240.04 miThe Mill Apartments, East Street, Colchester, Essex, CO12
£1,35005/240.04 miThe Mill Apartments, East Street, Colchester, Essex, CO12
£1,00003/240.06 miEast Street, Colchester2
£1,00003/240.06 miEast Street, Colchester2
£95003/240.08 miGrays Cottages, Colchester2
£95003/240.08 miGrays Cottages, Colchester2
£1,15003/240.08 miRouse Way, Colchester, Essex, CO12
£1,00003/240.1 miIpswich Road, Colchester, Essex, CO12
£1,10005/240.1 miIpswich Road, COLCHESTER2
£85003/240.12 miOld Coach House, Old Coach Road, Colchester2
£82510/230.14 miEast Street, Colchester, Essex, CO12
£1,00003/240.14 miThe Coach House, East Street, CO12
£1,10003/240.15 miEast Hill, Colchester Town2
£1,00005/240.17 miBrook Street, COLCHESTER2
£96004/240.17 miBrook Street, Colchester, CO12
£96004/240.17 mi-2
£1,05004/250.17 mi-2
£1,10004/240.19 mi-2
£1,20002/250.2 mi-2
£1,20012/240.24 miSt Andrews Gardens, Colchester2
£95012/240.24 miSt. Andrews Court, Colchester2
£90003/240.24 miBrook Street,Colchester2
£95003/240.24 miEast Hill, Colchester, CO12
£95004/240.24 miEast Hill, Colchester, CO12
£1,25005/240.24 miSmythies Avenue, Colchester, CO12
£1,10005/240.29 miGrantham Court, Colchester2
£1,15004/240.3 miOld Rectory Drive, Brook Street, Colchester, CO12
£98501/250.31 mi-2
£2,85003/240.31 mi-2
£1,10003/240.33 miSaw Mill Road, Colchester, Essex, CO12
£1,04503/240.36 miSimons Lane, Colchester2
£1,05003/240.36 miGeorge Williams Way,Colchester,CO12
£1,00003/250.37 mi-2
£1,05001/250.37 mi-2
£1,25005/240.38 mi-2
£1,25005/240.38 miGreenstead Road, Colchester, CO12
£1,15003/240.39 miCastle Road, Colchester, Essex, CO12
£95004/240.4 miMagdalen Street, Colchester, Essex2
£1,00003/240.4 miGeorge Williams Way, Colchester2
£1,00004/240.4 miGeorge Williams Way, Colchester2
£1,20004/240.4 miCentral Colchester2
£1,10003/240.4 miGeorge Williams Way, Town Centre2
£1,20003/250.4 mi-2
£1,10004/250.4 mi-2
£77501/240.41 mi-2
£1,30004/250.41 mi-2
£1,10003/240.41 miGeorge Williams Way, Colchester, Essex, CO12
£1,00005/240.42 miBarrack Street, Colchester2

Local Area Statistics

Population in CO1

15,333

Population in Colchester

214,734

Town centre distance

1.21 miles away

Nearest school

0.10 miles away

Nearest train station

0.56 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+32%

Sales demand

Balanced market

Capital growth (5yrs)

+14%

Property History

Price changed to £230,000

October 30, 2024

Price changed to £240,000

October 5, 2024

Listed for £250,000

June 10, 2024

Floor Plans

Description

  • Fantastic penthouse apartment +
  • Two double bedrooms +
  • Spacious open plan living room/kitchen +
  • En-suite to principal bedroom +
  • Family bathroom +
  • Two balconies +
  • Three parking spaces +
  • Use of communal swimming pool +
  • Superbly presented throughout +
  • River views +

A fabulous penthouse apartment situated a short distance from the city centre offering stylish living space with a fantastic open plan living room/kitchen, two balconies with river views, en-suite to principal bedroom, three parking spaces and use of communal pool.

The property is accessed via a stair flight or lift with an entrance door leading to the entrance hall with a cupboard housing the gas central heating boiler, a double storage cupboard and Velux window in the study area.

Both bedrooms can be accessed from the hallway and are of a good double size with bedroom one having double glazed French doors leading to a balcony with river views and also featuring an en-suite shower room comprising wash hand basin, WC, shower cubicle and a Velux window.

The bathroom can also be accessed from the hallway comprising a panel bath with centre taps, shower over, WC and wash hand basin.

The main feature of the apartment is the superb open plan living room/kitchen which also has double glazed French doors leading to a balcony area also affording river views, three Velux windows and a window to the rear making the room bright and airy. The kitchen area is fitted with a range of stylish modern units, work surfaces, an island feature with an inset four ring Smeg gas hob with extractor fan over, electric oven, integrated fridge/freezer, dishwasher and washing machine and 1½ bowl sink with mixer taps.

Outside
The property has the benefit of three allocated parking spaces which are secure with remote electric gates and also the use of a well maintained communal pool and changing rooms.

Location

The property is situated a short distance from the city centre and Colchester Castle Park which can be reached on foot.

The city centre offers varied range of shopping facilities, bars and restaurants and the stations of the city can be reached providing services to London's Liverpool Street.

The A12 can be accessed London bound towards the M25.

Directions

Please use postcode CO1 2ZD.

Important Information

Council Tax Band – D EPC Rating - TBC
Services - We understand that mains water, gas, drainage and electricity are connected to the property.
Tenure - Leasehold
Our ref - COL240454
Lease details - The property is held on a 125 year lease which commenced 2004. The service charge is approximately £290 per month and the ground rent is £150 per annum these charges are for the current year and maybe subject to change, all information should be checked by your solicitor.

Agents note
Any intending viewers or purchasers are advised of the following: An EWS1 form ( External Wall Survey) may be recommended for certain apartment buildings dependant on issues such as the height of the structure. the positioning of balconies and composition of any external cladding. Fenn Wright have not undertaken any such assessment in respect of this particular property and this note has been added to all flats being offered for sale throughout our business as appropriate general guidance. We recommend that potential purchasers seek advice from their solicitor and an independent Chartered Surveyor before committing to a purchase.

Agent Details

Fenn Wright, Colchester

01206 586120

Next Steps?

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