Milton Keynes: Apartments with Terraces Beside a Country Park

Key details

About this property

The address is Milton Keynes, MK16, in Buckinghamshire, and the local authority is Milton Keynes City Council. Milton Keynes Central station is a ten minute drive and from there London Euston is thirty two minutes by train; junction 14 of the M1 is two minutes away, and Oxford and Cambridge are both about an hour. The development is a 950 acre masterplan for more than 4,600 homes built with the city council and the government's housing agency, and the first phase sits beside a 160 acre country park that connects through to a lake. Four schools, a health hub and a convenience store are being built on the site rather than nearby. The apartment block sits within the first phase and holds one and two bedroom homes over three floors. One bedroom plans are 51 to 55 square metres and two bedroom plans 68 to 70, and the price list gives each plot its own aspect, floor and outdoor area: the upper floors carry a 63 square foot balcony, while the ground floor homes get terraces of 120 to 304 square feet instead. Inside, the specification matches the houses on the site, with a bathroom and an ensuite, an induction hob from a premium brand and solid surface worktops. Parking is a communal car park rather than a driveway, and tenure is a 999 year lease rather than freehold. The specification is the same across the site. Heating is an air source heat pump with underfloor heating to the ground floor, kitchens have solid surface worktops and an induction hob from a premium brand, and every home gets at least one parking space and an electric car charging point. The estate charge runs at about 38 pence per square foot a year and the buildings carry a ten year warranty. The price list publishes an estimated monthly rent and a gross yield for every single plot, which is a developer putting numbers on the record rather than a brochure adjective. Every apartment here completes in the first half of 2028. Purchase is a 2,000 pound reservation, ten percent within twenty eight days of exchange, a further ten percent twelve months later and eighty percent on completion. Three things to weigh. That is a two year wait from reservation to keys. The apartments are leasehold on a 999 year term while the houses on the same site are freehold, which matters for resale. And the published yields of roughly 4.7 to 5.6 percent are the developer's estimates, given as a range rather than a figure, so ask what the range is based on.

Features

Location

Milton Keynes

Distance to airport

71.2 km

Distance to centre

6.8 km