Oxlip House, Airfield Road, IP32 7RH

Exclusively for the over 55s, this one bedroom apartment is situated in Bury St Edmunds, Suffolk and is available to purchase through the Shared Ownership scheme.

Full Market Value:£193,333

Share Available:75%

Monthly Service Charge:£537.55

Weekly Core Care Charge: TBC, estimated at £58.08

Remaining Lease Term: 114

About the Property

The property boasts a number of key features such as an entrance hall, bedroom with en suite shower room, open kitchen/lounge, and a private balcony. There is a communal car parking area to the rear.

Oxlip House is host to a variety of amenities including a hair salon*, treatment room*, resident shop, scooter store, guest room*, lounge, cinema room, library, laundry room, cafe* and sun terrace.

About the Area

Bury St Edmunds, commonly referred to as Bury, is a historic market town and civil parish in the in the county of Suffolk, England. Bury St Edmunds Abbey is near the town centre. Bury is the seat of the Diocese of St Edmundsbury and Ipswich of the Church of England, with the episcopal see at St Edmundsbury Cathedral.

The town, originally called Beodericsworth, was built on a grid pattern by Abbot Baldwin around 1080. It is known for brewing and malting (Greene King brewery) and for a British Sugar processing factory, where Silver Spoon sugar is produced. The town is the cultural and retail centre for West Suffolk and tourism is a major part of the economy.

Bury St Edmunds railway station serves the town, operated by Abellio Greater Anglia, on the Ipswich to Ely Line. Trains run seven days a week, every two hours to Peterborough and hourly to Ipswich and Cambridge. Trains from Peterborough continue to Ipswich after Bury St Edmunds. Onward train connections from Cambridge link with London King's Cross, London Liverpool Street, Stansted Airport, and Ipswich which provides connections to Liverpool Street via Colchester for example.

Shared Ownership for the over 55's - How does it work?

Whether you are retired, planning for your future or downsizing, where you live and quality of life is important. Oxlip House provides you with the privacy of your own apartment but with a sense of community.

You buy a share in your home (50% or 75%) with the remaining share owned by bpha. There is no rent to pay on a 75% purchase. This property has a 75% share available to purchase.

In the future, you have the option of increasing your share to 75%, or you can simply sell your share for its value at the time of sale (current market valuation required).

To qualify for the property, applicants will be required to have a sale agreed on their current property (if applicable) and have to be approved by Help to Buy East and South East, pass the necessary checks, and be over the age of 55.

The association will carry out an affordability assessment on any interested applicants and this will also be subject to care assessment.

Please note, applicants individual care needs will be assessed once an application has been made, however any potential purchaser will be required to pay for tailored care, with the amount confirmed by the care provider, in addition to the charges stated above.

*Fee Applies