8 Pennings Close

Property Overview

Situated within the popular Winnycroft development in Gloucester, this attractive three bedroom semi-detached home offers an excellent opportunity to step onto the property ladder through Shared Ownership.

Extending to approximately 819 sq ft (76 sq m), the home has been thoughtfully designed to provide bright and practical living throughout. The welcoming entrance hall leads to a spacious living room, creating an ideal space for relaxing or entertaining. To the rear of the property, the contemporary kitchen and dining room offers ample space for family meals and benefits from French doors opening onto the rear garden. A convenient downstairs Wc completes the ground floor.

Upstairs, the property features two generous double bedrooms, a dedicated study that could also be used as a nursery or home office, a modern family bathroom and an en suite shower room to the principal bedroom, providing flexible accommodation for modern family living. The home also benefits from 2 off-street parking spaces.

This Shared Ownership opportunity offers a more affordable and flexible route to owning a modern family home in a well-connected Gloucester location.

Financial Breakdown

• Full Market Value: £300,000
• 55% Share Value: £165,000
• Rent (45% share): £307.29 per month
• Estate Charge: £53.60 per month
• Buildings Insurance: £18.97 per month
• Management Fee: £34.89 per month
• Reserve Fund: £0.00 per month
• Total Monthly Payment (excluding mortgage): £414.75 per month
• Lease Length: Approximately 988 years remaining

What is Shared Ownership?

Shared Ownership offers a more accessible route to homeownership by allowing you to purchase a share of a property’s value, while paying a subsidised rent on the remaining share.

Over time, you may choose to buy additional shares in your home through a process known as staircasing, potentially increasing your ownership up to 100%. Deposits and mortgage payments are based on the share purchased, meaning costs are often lower than buying outright or renting privately.

L&G Affordable Homes is a Registered Provider delivering Shared Ownership homes and committed to creating well designed communities and supporting buyers throughout their home buying journey.

Eligibility Criteria

To be eligible for Shared Ownership, you will 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 your purchase.
• Be unable to purchase a suitable home to meet your housing needs on the open market.

Shared Ownership Disclaimer

Shared Ownership is subject to eligibility, affordability checks and the terms of the lease. Rent is payable on the share not owned, along with any applicable service charges and other outgoings. Staircasing is subject to a valuation at the time of purchase and additional legal and valuation costs may apply. Priority may be given to applicants with a local connection. All information provided is for guidance only and does not form part of any contract.

Local Area

Located within the desirable Winnycroft development in Matson, residents enjoy easy access to local shops, schools, healthcare facilities and everyday amenities. The property is ideally positioned close to Robinswood Hill Country Park, offering excellent walking routes and panoramic views across Gloucester.

Gloucester city centre is just a short drive away, providing a wide range of shopping, restaurants, leisure facilities and rail connections. The nearby A38, A40 and M5 motorway provide excellent transport links to Cheltenham, Bristol, Birmingham and the wider South West.