Cholstrey Road in Leominster

This is a Shared ownership development by Connells

Stonewater is proud to present a collection of two- and three-bedroom semi-detached houses for shared ownership on the outskirts of Leominster. Located on Cholstrey Road, to the west of the town, these new homes benefit from being close to both Leominster’s amenities as well as the glorious open countryside of the Marches.

All of the properties benefit from allocated off-road parking and are fitted with PV solar panels which can help to reduce carbon emissions as well as reduce utility bills. The two bedroom homes have a spacious living/dining room at the back which looks out on to a private rear garden, a separate kitchen and a useful cloakroom with WC and hand basin on the ground floor. Upstairs are two good-sized double bedrooms and a contemporary style family bathroom.

Occupying a larger footprint, the three bedroom properties also have a spacious living/dining room, a separate kitchen and a cloakroom on the ground floor, whilst upstairs are a family bathroom, two double bedrooms and a single bedroom which could easily serve as a home office.

Price example two bedroom homes:

Full Market Value - £240,000
40% Share Price - £96,000
Monthly Rent - £330
Service Charge - £64.26
Minimum Deposit Required - £4800


Price example three bedroom homes:

Full Market Value - £300,000
40% Share Price - £120,000
Monthly Rent - £412.50
Service Charge - £67.54
Minimum Deposit Required - £6000


Shared Ownership:

Shared Ownership is a scheme which enables you to buy a share of a property subject to affordability whilst paying a subsidised rent on the remainder. The more of the property you own, the less rent you pay.

This means that monthly outgoings are split into part mortgage and part rent. Once you have bought your initial share, you may be able to purchase the remainder of the property as and when your circumstances change. This is an optional process known as Staircasing.

All shared ownership properties are leasehold and therefore usually attract a service charge. In the case of houses, the freehold would usually be transferred to you on 100% Staircasing (subject to lease restrictions)

The service charge will include buildings insurance as well as a charge for the cleaning and/or maintenance of any communal areas such as car parks, greenspaces and so on. Maintenance of lifts (where installed) as well as communal grounds in the case of flats may also be included. In some cases, an external organisation may be set up to maintain aspects of communal areas therefore customers may be required to make contributions to a Management Company. Lastly, there may be a requirement to contribute towards something called a reserve fund which is designed as a contingency to cover the costs of any large prospective works. For details about any particular development, please contact us.

The Local Area:

The development is within convenient walking distance of Leominster town centre, and the wide range of independent shops, cafes, restaurants and pubs the town has to offer. Everyday food shopping is made easy by the proximity of a large Morrisons supermarket less than a mile away.

Leominster is also a popular market town, with several regular markets including the Leominster Charter Market, which takes place every Friday in the town’s Corn Square. Corn Square is also the venue for a monthly farmers’ market, held on the morning of the second Saturday each month. And finally, Leominster celebrates its Annual Food Fayre on the first Saturday in September.

Schools in the area include a number in outlying villages such as Kingsland, Luston and Stoke Prior; closer to home is Leominster Primary School for pupils aged three to 11-years-old and rated ‘Good’ by Ofsted, and Earl Mortimer College and Sixth Form Centre for pupils aged 11 to 16-years-old and also rated by Ofsted as ‘Good’.

Sports enthusiasts are well catered for by Leominster Leisure Centre, a complex which houses a gym, two swimming pools as well as squash, badminton and tennis courts. Gentler outdoor pursuits such as walking, with or without a canine companion, or simply taking in the nature are available at Queenswood Arboretum and Country Park, a few miles outside of the town. This 120-acre area of ancient wooded landscape has at its heart a 47-acre arboretum, which is decorated with spectacular cherry and magnolia blossom in Spring, and flaming red, orange and yellow maple and oak foliage during the Autumn, and is one of the Marches’ more popular seasonal attractions.

Leominster is well served by a number of local bus routes as well as its own railway station to the east of the town. Located on the Welsh Marches Line, regular direct rail services operate from the station to Hereford (15 minutes travel time), Cardiff Central and Manchester Piccadilly (one hour and 17 minutes, and two hours travel time respectively).

Agents Notes:

Please note that all sales particulars and images are for marketing and illustrative purposes only. Plans, computer generated images and photos may contain elements which are not present upon the final completion of the property.

Example Shared ownership share price options

The following table shows examples of the share price range of this development at various share points

Are we missing any purchase information? Contact the developer

Please note: Computer generated images are for illustrative purposes only. Images may include optional upgrades at additional cost. Its purpose is to give a feel for the development, not an accurate description of each property. External materials, finishes, landscaping and the position of garages (where provided), may vary throughout the development. Properties may also be built handed (mirror image). Please ask for further details.

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