Bury Property Edition November

NOVEMBER 2013

www.buryedition.co.uk

Brought to you by Bury Edition

FREE MAGAZINE

FEATURED

HISTORY

to the SPECIAL REPORT HELP TO BUY SCHEME BPE11_001 (COVER)hbljc.indd 1

25/10/13 15:35:11

BE ADS.indd 1

25/10/13 15:40:42

WELCOME

Welcome to

Property Edition

elcome to the November issue of Property Edition, offering a comprehensive look at what’s on the market in Bury St Edmunds this month. We hope it’s an enjoyable read; we’ve certainly loved finding out about some of the handsome – and often historic – homes our region has to offer.

Starting things off is our beautiful cover property: a family home with acres of land, in Cavenham. It’s available with either all or some of the land included, while the property itself is a charming example of a Victorian country villa. Read more about it on page 6.

Another one that captured our imaginations this month is the stunning former priory in Lavenham. Centuries old, it displays an eclectic mix of beautiful architecture, from

medieval to Jacobean, and is one of the most attractive properties in this already picturesque village. Have a look at it in more detail on page 7.

We’ve got new homes aplenty too, including a development opportunity in Bury itself and a brand new family home in the town.

Then find out how the government’s new Help to Buy scheme could help you up the property ladder. There’s a common misconception that Help to Buy is just for firsttime buyers, or new build properties, but it is in fact open to anyone wanting to buy a property, old or new, for under £600,000 (so that’s most of us, then!). We’ve got details of some developments that the scheme applies to on page 11.

Happy house-hunting!

Jennifer Shelton, Features Editor

jennifershelton@bright-publishing.com 01223 499463

BURYedition.co.uk

BPE11_003 (PWELCOME)hbljc.indd 3

Property Edition | November 2013 | 3

25/10/13 10:27:16

BE ADS.indd 1

25/10/13 11:30:33

BE ADS.indd 1

25/10/13 11:30:50

PROPERTY

WORDS JENNIFER SHELTON

PROPERTY NEWS

Edition takes a look at the latest happenings in the buzzing local property market

COVER STAR This impressive family house is in Cavenham, just eight miles from Bury St Edmunds. The property stands within 18 acres of land, including a large lawned garden, paddocks and woodland, and is on the market for a guide price of £750,000 (or £675,000 for the property and a reduced area of 1.2 acres).

Inside, the accommodation is light and spacious and includes an entrance hall, drawing room, library, delightful orangery, dining room, kitchen/ breakfast room, four bedrooms and two bathrooms, plus a self-contained annexe with living room/bedroom and a bathroom. There is also a detached barn with stables and a workshop, a garage and a chicken run.

For more information, contact Jackson-Stops & Staff on 01284 700535. www.jackson-stops.co.uk

COVER PROPERTY

REFURBISHED VICTORIAN TOWNHOUSE Part of a former inn, this traditional Victorian property in Risbygate Street has since been transformed into a stylish, modern house, offering parking, a sought-after town centre location and a garden.

Refurbished throughout, the accommodation is arranged over two floors and comprises three bedrooms, a bathroom, cloakroom, living room and an open-plan kitchen/breakfast room.

The property has a guide price of £265,000, and the stamp duty has already been paid.

For more information, contact Duttons on 01284 749433. www.duttons.uk.com

6 | Property Edition | November 2013

BPE11_006-011 (PROPERTY NEWS)hbljc.indd 6

BURYEDITION.CO.UK

25/10/13 15:13:02

PROPERTY

LAVENHAM LUXURY A beautiful property in Lavenham is currently on the market, offering exquisite period accommodation set in three acres of land.

Lavenham Priory, which is Grade I listed, has its origins in the 13th century when a hall house was erected on the site. The original is still in existence as the main hall, and was added to over the centuries, with most of the building we see today dating from the 16th century, including the impressive inglenook fireplace. The result is a property bursting with features from across the ages, including the Jacobean staircase, Elizabethan strapwork painting and wall paintings in both the Painted and Great Chambers.

Over the years, the house has been occupied by Roger Ruggles, a Lavenham clothier in the 1540s whose initials can be seen above the fireplace in the Great Hall, and a local doctor in the 1780s. During the early 19th century it was the home of Reverend John Mudd, before the house was divided into several dwellings. As well as a priory, the property has also functioned as a farm, and some local residents still remember buying milk, cream and ice cream from the dairy.

Today, it offers nine bedrooms, many of which have en-suites, attractive reception rooms, a study, kitchen/breakfast room and two cellars, while a triple cart lodge, garage, workshop, greenhouse and timber barn can be found outside. The gardens are particularly striking, extending to three acres and comprising a kitchen garden, formal garden, orchard, paddock and small copse.

The property has a guide price of £1.85 million. Contact Jackson-Stops & Staff on 01284 700535. www.jackson-stops.co.uk

NEW BUILD IN BURY

Anyone looking for a brand new home would do well to check out the detached chalet in Douglas Close, Bury St Edmunds. The property will feature four bedrooms, an open-plan kitchen/breakfast room, living room, utility room, bathroom and ensuite, with contemporary features such as underfloor heating to the ground floor rooms. A double garage will also be included, with a driveway in front offering ample parking. There will also be a lawned garden to the rear. Situated close to town, this property – part of a development of six similar houses – would make an excellent family home. It’s on the market for £450,000. Contact All Homes on 01359 234444. www.allhomes.uk.com

BURYEDITION.CO.UK

BPE11_006-011 (PROPERTY NEWS)hbljc.indd 7

Property Edition | November 2013 | 7

25/10/13 15:14:22

BE ADS.indd 1

25/10/13 11:29:45

BE ADS.indd 1

25/10/13 11:30:06

PROPERTY

A HOUSE

WITH HISTORY Nestled within established gardens in Hargave, 1 Chapel Cottages is an idyllic, escape to the country. The charming Grade II listed property is abundant in stunning original features, from inglenook fireplaces to exposed timber beams. Downstairs, there is an entrance hall, kitchen, living room, bathroom and a double-glazed garden room, while two bedrooms, a dressing room/ nursery and landing/study area can be found upstairs.

The gardens, with spacious lawns and natural pond, are a particularly spectacular feature, with a summerhouse, timber shed and greenhouse. A generous front lawn and ample parking are provided. Offers in excess of £300,000 are invited.

Contact All Homes on 01359 234444. www.allhomes.uk.com

DEVELOPMENT OPPORTUNITY

Love a building project? A building plot in a stunning location has come onto the market through David Burr, offering a chance to create your own home from scratch. The land is within walking distance of the town centre, yet occupies a private, woodland setting.

Permission has been granted for the creation of a 6,800sq ft Georgian-style property, set in 0.75 acres, to include an entrance hall, living room, dining room, kitchen/breakfast room, utility, five bedrooms – each with their own ensuite bathroom – and a games room.

The plot has a guide price of £600,000. For more information, contact 01359 245245. www.davidburr.co.uk

10 | Property Edition | November 2013

BPE11_006-011 (PROPERTY NEWS)hbljc.indd 10

BURYEDITION.CO.UK

25/10/13 15:15:17

PROPERTY

HELP TO BUY AIDS SECOND STEPPERS New market insight from housebuilder Crest Nicholson suggests that a large proportion of second-time buyers are unaware of how the Government’s Help to Buy scheme could assist with their next step up the property ladder.

Across the company’s developments in Suffolk there has been no uptake of the scheme amongst second steppers, which indicates that many could be missing out on their dream home.

With the average second stepper now confined to their starter home for 14 years after purchase, a recent report has revealed that it is not just firsttime buyers who struggle to ascend the property ladder. Whilst former schemes focused exclusively on firsttime buyers, Help to Buy is available to second steppers.

Requiring just a five per cent deposit on a property, a 75 per cent mortgage and a 20 per cent government loan on homes worth up to £600,000, the finances necessary to ascend the property ladder with the scheme are

BURYEDITION.CO.UK

BPE11_006-011 (PROPERTY NEWS)hbljc.indd 11

instantly more affordable. Simultaneously, Help to Buy also has an impact on the types of properties that second steppers can live in. Whilst a minimal move from a one-bedroom flat to a small two-bedroom house might previously have constituted a second step, the initiative has made threeand four-bedrooms a viable purchase.

At the Laurels in Stowmarket, the four-bedroom house type The Gosfield, with extensive living accommodation and garden, is on the market for £215,600 with Help to Buy. With a full market value of £269,500, the scheme alleviates the need to borrow so much, without jeopardising the ability to accrue equity.

Benefitting from adaptable living accommodation, The Gosfield offers an open-plan kitchen/dining room, as well as a downstairs toilet. The separate living room alongside the garden room, which both feature double doors onto the garden, can be used as an entertaining space or extra living space if required.

On the first floor are two good-sized bedrooms which benefit from en-suites in each as well as a dressing room. Upstairs again, the second floor features two more bedrooms and another bathroom.

Annette Cole, sales and marketing director at Crest Nicholson Eastern, explains: “Whilst first-time buyers have taken full advantage of the government’s Help to Buy scheme, it seems that very

few second-time buyers are aware of how it can assist them too. There have been numerous reports outlining how people are putting their plans to start a family on hold because their homes are too small, but Help to Buy can help them to upsize into a property that is designed for a growing family.

“Although both phases of Help to Buy have launched, the first offers a completely different proposition to the second. Available exclusively on new build properties, the first phase of Help to Buy enables house purchasers to increase their budget by up to 20 per cent. Furthermore, the first phase ensures that second steppers are no longer hampered by a lack of equity in their current property. Although the government funding amounts to £12 billion, the pot isn’t limitless and there is a chance that it will run out before its three-year expiration period, so we would urge house buyers thinking of using the scheme to discuss their options with a financial advisor, ensuring a greater choice when choosing their property.”

The four-bedroom Gosfield homes are available from £269,500 or £215,600 with Help to Buy. For further details, contact Crest Nicholson Eastern on 0870 755 1620. www.crestnicholson.com

Property Edition | November 2013 | 11

25/10/13 15:15:52