2 George Close

Property Overview

This well-proportioned three-bedroom home provides approximately 99.2 sq m (1,068 sq ft) of accommodation arranged across three floors.

The ground floor features a separate fitted kitchen to the front of the property, together with a convenient downstairs WC. To the rear is a generous lounge measuring approximately 14’11” x 11’9”, with French doors providing direct access outside.

On the first floor are two bedrooms and the family bathroom. Bedroom two is a particularly good-sized double room, while the third bedroom provides a versatile space suitable for a child’s bedroom, guest room or home office.

The entire second floor is dedicated to the principal bedroom, creating an impressive private space measuring approximately 17’9” x 14’9” at its widest points and benefiting from its own en-suite shower room.

The property is leasehold with approximately 988 years remaining. Shared owners can staircase to 100% ownership, at which point the freehold will transfer to the homeowner.

Financial Breakdown:

• Full Market Value: £300,000
• 25% Share Value: £75,000
• Rent on Unowned Share: £595.98 per month
• Estate Charge: £12.90 per month
• Buildings Insurance: £21.22 per month
• Management Fee: £40.91 per month
• Total Monthly Payment (excluding rent): £75.03
• Lease Length: Approximately 988 years remaining

Larger shares are also available, subject to affordability assessment. For example, a 50% share is £150,000 with rent of £397.50 per month, while a 75% share is £225,000 with rent of £198.75 per month.

What is Shared Ownership?

Shared Ownership offers you the chance to buy a share of your home (usually between 25% and 75%) and pay rent on the remaining share. Later on, you could buy more shares of your new home when you can afford to and, if you chose, own the property outright. Monthly costs to purchase a home via Shared Ownership are generally less than purchasing outright or renting, making it a fantastic option to get onto the housing ladder.

Eligibility criteria:

To be eligible for a home here you’ll need to:

• Have a combined household income under £80,000 per annum
• Not already own a property, or part of a property, at the time of completing on your purchase
• Be unable to purchase a suitable home to meet your housing needs on the open market

If you don’t meet the eligibility criteria for this development, you may still qualify for a shared ownership purchase at one of our others.

Local area

Postwick is situated to the east of Norwich, offering convenient access to the city while benefiting from a more residential setting.

The property is well positioned for access to Norwich and the surrounding area, with the nearby A47 providing connections across Norfolk and towards Great Yarmouth. Local shopping and everyday amenities can be found within easy reach, while Norwich offers an extensive range of shops, restaurants, leisure facilities and cultural attractions.

The location also provides convenient access to the Norfolk countryside and Broads, making it well suited to buyers looking to combine access to Norwich with life outside the city centre.