The property is situated in a quiet cul-de-sac on the edge of this popular village with accommodation briefly comprising of Lounge, fitted Kitchen, Utility Area, Cloakroom, two Bedrooms and Bathroom. Outside there is parking for two cars, shared side passageway and an enclosed rear lawned garden. The property further benefits from NO ONWARD CHAIN. The Rent and Service Charge payable on a 25% Shared Ownership Basis is £352.64 per calendar month (made up of £335.16 Rent and £17.48 Service Charge).
TENURE - LEASEHOLD THIS PROPERTY IS AVAILABLE TO PURCHASE ON A 25% TO 75% SHARED OWNERSHIP BASIS
The asking price of £48,750 represents a 25% share of the ownership. Once the property is owned, the purchaser can then purchase up to 100%. However, as the property is in a Protected Area it will remain Leasehold.
The Lease will be issued for 990 years, with a clause to advise that once over 80% of the property is owned, NCHA will purchase the property back at market value.
Rent & Service Charge:-
25% Share of the Ownership - Rent payable to NCHA is £335.16 per calendar month;
50% Share of the Ownership - Rent payable to NCHA is £223.44 per calendar month; and
75% Share of the Ownership - Rent payable to NCHA is £111.72 per calendar month.
In addition to Rent, a Service Charge is also payable to NCHA in the sum of £17.48 per calendar month - irrespective of ownership percentage (please note that this is likely to increase from 1 April 2025).
No Ground Rent is payable.
RESERVATION CRITERIA Interested parties must meet Nottingham Community Housing Association's standard Shared Ownership Criteria as follows:-
- You must not own any other home (or if you do, that it is on the market with an offer accepted on it); and
- Your household income must be less than £80,000 per annum.
There is also a Local Connection Criteria as follows:-
- You were born in Collingham; and/or
- You live in Collingham; and/or
- You have lived in Collingham, but have been forced to move away because of lack of Affordable Housing; and/or
- Your work provides important services and you need to work closer to the local community.
LOCATION Collingham has an excellent range of amenities including a Co-op food store, medical centre, dentist, traditional butcher, pharmacy, shops, primary school, library and Collingham train station with access to both Lincoln and Nottingham. The property has accessibility to Newark Town Centre, Newark Northgate Station (with main line to London Kings Cross approx. 80 mins) and Newark Castle Station with trains to Nottingham and Lincoln. The major road networks of the A1, A46 and A17 are all within close proximity.
SERVICES All mains services available. Gas fired central heating. Solar Panels (sold as seen).
LOUNGE 12' 0" x 13' 5" (3.66m x 4.09m) With double glazed entrance door, radiator, double glazed window to front elevation, under stairs storage cupboard, stairs off to the First Floor Landing and engineered oak flooring.
UTILITY AREA 6' 8" x 3' 10" (2.03m x 1.17m) With space and plumbing for a washing machine and tumble dryer with work surface over.
CLOAKROOM 5' 0" x 3' 10" (1.52m x 1.17m) With low level WC, pedestal wash hand basin and radiator.
FITTED KITCHEN 12' 2" x 7' 10" (3.71m x 2.39m) Fitted with a range of wall, base units and drawers with work surfaces over, electric Bosch oven with four ring Indesit gas hob over and extractor fan over, inset stainless steel single drainer sink unit, space for a fridge, double glazed double doors leading to the rear garden, radiator and space for a breakfast table.
FIRST FLOOR LANDING With access to roof space and doors leading to two Bedrooms and Bathroom.
BEDROOM ONE 8' 10" x 10' 0" (2.69m x 3.05m) With double glazed window to front elevation, radiator, over stairs storage cupboard and further cupboard housing the Vaillant central heating boiler.
BEDROOM TWO 12' 2" x 9' 0" (3.71m x 2.74m) With double glazed window to rear elevation and radiator.
BATHROOM 6' 2" x 4' 7" (1.88m x 1.4m) With suite to comprise panelled bath with integral shower over and glazed side screen, pedestal wash hand basin and low level WC, part tiled surround and heated towel rail.
OUTSIDE To the front of the property there is block paved hard standing providing off road parking for two vehicles and external light. To the rear there is an enclosed lawned rear garden with patio area, timber shed, external light and side gate leading to the shared passageway.