Semi-detached house for sale in Newton Road, Bovey Tracey, Newton Abbot TQ13

Solo Homes, in partnership with Cornerstone Housing, are pleased to offer this brand new 3 bedroom property in Bovey Tracey Available on a shared ownership basis, this is a great opportunity for purchasers with a local connection to make your home purchase more affordable.

One of 24 homes, Plot 21 is set in the grounds of the historic Indio Lodge, accessed by a gated drive, and is surrounded by woodland yet within easy walking distance of the town centre.

The house will feature a smart modern kitchen with built-in cooking appliances, separate lounge, 3 bedrooms, bathroom and downstairs cloakroom & under stairs storage. Parking for two vehicles located at the front of the property, front and rear gardens with storage facilities and washing line. The property will benefit from Air Source heat pump and provision for Electric Vehicle charging.

Initial purchase is set at 50% of the market price and the remainder will be rented from Cornerstone on a 125 year lease. The rest of the property can be purchased in % increments or in one go at a later date, through a process known as staircasing. On final staircasing the Freehold would be acquired.

Completion will be August 2024

Shared Ownership

The price of £167,500 is for a 50% share of the property, with other share amounts available subject to affordability. Based on a 50% share, there is a monthly rent £383.85, and a monthly service charge of £19.71. Interested parties are requested to complete a local connection form to confirm they meet the local connection criteria, and following this an application form will be sent.

Please note a Local Connection is required to purchase this property:

First - Parish of Bovey Tracey

Second - Parish of Ilsington, Kingsteignton, Teigngrace, Hennock & Lustleigh

Third - Teignbridge District Council administration area