According to the public record, 56, Military Road, Colchester is a period leasehold apartment with 602 ft2 of internal area.
Apartments of this size in this area normally have 2 bedrooms with a garden.
The apartment is in 56, Military Road, Colchester, CO1.
Military Road, Colchester, CO1 is located in the borough of Colchester within the CO1 postal district.
56, Military Road, Colchester has a single entry in the Land Registry database from January 2008 and a single entry in the EPC database dated January 2020.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for 56 Military Road Colchester as £167,824 and the rental value as £764 per month giving an expected gross yield of 5.5%.
Over the last 12 months the sale value of 56 Military Road Colchester has increased by £1,061 (0.6%) and its rental value has increased by £73 per month (9.6%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If 56, Military Road, Colchester is in very good condition we estimate a sale value of £176,215 and rental value of £802 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £156,076 and a rental value of £710 per month.
If you were able to purchase this property for the estimated value of £167,824, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £825 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, 56, Military Road, Colchester was last sold on 18 Jan 2008 for £150,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Jan 2008, the market for similar properties has risen 36.7%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to 56, Military Road, Colchester within a radius of 330 metres over the last 2 years.
The most recent example is 33, George Williams Way, Colchester, CO1 2JP, a Leasehold flat which sold for £170,000 in Feb 2024.
Read more about house prices in CO1.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Military Road, Colchester, CO1 has a total of 259 addresses. According to our analysis of all the public data, 56, Military Road, Colchester is the 128th largest and the 148th most expensive property on the street.
When compared to the postcode district it is £94k less expensive than the average property in CO1.
56, Military Road, Colchester has an Energy Performance Rating (EPC) of C. This is based on the most recent assessment, dated 13 Jan 2020.
The property is connected to mains gas and has fully double glazed windows. It is heated using a boiler and radiators.
The closest station to 56, Military Road, Colchester is Colchester Town station which is 500 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around 56, Military Road, Colchester, 61.8% of property is privately rented and 21.8% is socially rented.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around 56, Military Road, Colchester, 27.2% of residents are recorded as possessing school level qualifications and 27.6% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around 56, Military Road, Colchester, the average age was 33.3 and the most common age was 22.
The graph below shows how this compares to East of England and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around 56, Military Road, Colchester, 0.0% of property was a second home.
Comparison figures for East of England and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around 56, Military Road, Colchester, there are an average of 0.7 cars per household.
See below for how this compares to East of England and the rest of England & Wales.