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2 bed flat for sale

£130,000

George Place, Millbay, Plymouth PL1

2 1 1
Interested in this property? Call +44 1753 903816 * or Request Details

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Property features

  • 2 Bedroom Duplex Apartment
  • Brand New Conversion
  • Central Location
  • Secure Gated Parking
  • Rent to Buy Scheme
  • Rent Paid Contribution Towards a Deposit

Property description

Property description how it works - Tenants pay market value rent for up to 20 years, with an option to purchase at any time from year 2, up to year 5 of the tenancy. If they decide to take up the purchase option, 50% of the rent paid to the date of purchase will count towards a deposit up to a maximum of 10% of the market value on day of purchase.

Creating a deposit and building up credit history is typically the major barrier to first time buyers – this arrangement tackles both.
If, however, circumstances or personal choice means the tenants decide not to buy, by year 5, they still have the security of renting for a further 15 years; the choice is entirely their own.

This fantastic development is the result of a pioneering partnership between qsh, Plymouth City Council and South Devon Rural Housing Association (sdr). Plymouth City Council sold the building to qsh as part of its plan for Empty Homes initiative. The building has since under-gone quite a transformation, into 11 tastefully converted apartments. Sdr have been consulted on aspects of the development and once occupied, will manage the building and tenancies on behalf of the Landlord, qsh.

If you are looking at an easy way to get on the housing market then this is an opportunity not to be missed. Phone Maitlands on to discuss exact costs, prices, how it works and the benefits alongside the size and finish of the individual apartments.

Area description This property is very well centrally positioned close to Plymouth's famous waterfront and you are within walking distance of the City Centre, the historic Royal William Yard and Plymouth Hoe. A real up and coming area, with high class restaurants, wine bars and funky nightlife all in walking distance on the Barbican, this is a great spot to set up home.

Property info

Floorplan(s): Floorplan 1 Floorplan 2

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Market activity
Average price paid £179,640 Sales 303 Current average value £188,403 (Zoopla Zed-Index) Value change -£2,689 ▼ -1.41%

Property value data/graphs for PL1

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £345,053 £181 4.0 £296,000
Semi-detached £236,739 £196 3.5 £214,675
Terraced £209,708 £176 3.5 £219,775
Flats £167,103 £237 1.9 £152,644

Current asking prices in PL1

Average: £206,761
Avg. current asking prices in PL1
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £90,000
(1)
£134,000
(5)
£246,442
(19)
£332,610
(21)
£297,000
(10)
Flats £107,882
(60)
£197,065
(94)
£299,615
(13)
£1,250,000
(1)
£160,000
(1)
All £107,589
(61)
£193,880
(99)
£268,043
(32)
£374,309
(22)
£284,545
(11)

Current asking rents in PL1

Average: £672 pcm
Avg. current asking prices in PL1
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £390 pcm
(21)
£700 pcm
(2)
£836 pcm
(2)
£1,241 pcm
(3)
£1,423 pcm
(3)
Flats £518 pcm
(67)
£705 pcm
(26)
£985 pcm
(5)
- -
All £488 pcm
(88)
£705 pcm
(28)
£943 pcm
(7)
£1,241 pcm
(3)
£1,423 pcm
(3)

Fun facts for PL1

Highest value in PL1
Highest value streets Zed-Index
Collingwood Villas £450,845
Custom House Lane £448,367
Cliff Road £393,313
Freemans Wharf £375,759
Elliot Terrace £371,488
Highest turnover in PL1
Highest turnover streets Turnover
Archer Terrace 50.0%
Napier Street 50.0%
Wright Close 48.6%
Grand Hotel Road 48.3%
Admiralty Road 46.2%

What Zoopla users think of Plymouth

Overall rating:

  • currently 4 stars
Very good - 78% (285 ratings)

Ratings breakdown:

  • currently 4 stars
Community & safety
  • currently 3.5 stars
Entertainment & nightlife
  • currently 4 stars
Parks & recreation
  • currently 4 stars
Restaurants & shopping
  • currently 4 stars
Schools & public services
  • currently 4 stars
Transport & travel

Rate Plymouth:

Tell us what you think of this area by rating these categories.
Please note your vote will only be counted once.

Community & safety
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Entertainment & nightlife
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Parks & recreation
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Restaurants & shopping
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Schools & public services
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Transport & travel
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5

Nearby transport

  • Plymouth (0.9 miles)
  • Devonport (0.9 miles)
  • Dockyard (Devonport) (1.2 miles)
  • Exeter International Airport (41.3 miles)
  • Cardiff Airport (79.5 miles)
  • Bristol Airport (94.1 miles)
  • Plymouth Ferry Terminal (0.3 miles)
  • Plymouth Stonehouse Ferry Terminal (0.4 miles)
  • Cremyll Mount Edgcumbe Ferry Landing (1.0 mile)

Nearby schools

View all schools in Plymouth
  • High Street Primary Academy (0.2 miles)
  • St Peter's CofE Primary School (0.3 miles)
  • St Andrew's Cof E VA Primary School (0.4 miles)
  • Callywith College (25.9 miles)
  • EF Academy Torbay (28.5 miles)
  • Exeter Mathematics School (37.0 miles)
  • Plymouth School of Creative Arts (0.2 miles)
  • Devonport High School for Boys (0.4 miles)
  • Stoke Damerel Community College (0.9 miles)
Note: Distances are straight line measurements

Local info for Plymouth

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For more information about this property, please contact
Maitlands, PL1 on +44 1753 903816 * (local rate)

Monthly running costs Beta

£594 Monthly total

Mortgage

Purchase price
Deposit (10%) 13,000
Repayment term 25
Interest rate 1.5
Your payment £467 /mo How Much Could I Borrow

These results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Home Insurance

Contents value up to £80,000 Average insurance cost £8/mo (£99/yr)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.

Source: Autonet Insurance Ltd

Energy

Gas £26 Electricity £37 Estimated energy cost £63/mo

Similar properties could save up to £186

How Much Could I Save? In partnership with uSwitch
Energy costs explained

The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.

Estimated consumption

Gas: 7500 kWh/year
Electricity: 2600 kWh/year

Source: National Energy Efficiency Data Framework

Water

Supply £22 Sewerage £34 Estimated water cost £56 /mo
Water costs explained

Water consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.

Total annual consumption (in cubic meters) is then averaged into a monthly cost.

Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.

Contact Maitlands about this property

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Maitlands, and do not constitute property particulars. Please contact Maitlands for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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