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Prior Way, Colchester, Essex, CO4

East of England

£225,000
Listed on 22/02/2026

Property Details

Bedrooms
2
Type
Detached house

Description

Situated in a desirable location with easy access to local amenities, including the General Hospital and mainline railway station, this two-bedroom detached bungalow presents an opportunity for significant refurbishment. The property has been impacted by water damage from a burst pipe and is in need of extensive updates to restore it to its full potential. The layout features a compact entrance porch leading into a hall that offers access to the loft space. The generous lounge/diner connects through a glazed door to a rear porch that opens onto the garden. The kitchen is outdated and requires renovation; it includes an airing cupboard housing an insulated copper cylinder, wall-mounted gas boiler, cabinetry, and work surfaces with an inset sink. There are two well-proportioned bedrooms along with a bathroom equipped with a panel bath, wash basin, and W.C. Outside, the property is complemented by a front garden area and off-road parking via a side driveway. The enclosed rear garden features fencing/walling, patio space, a storage garage (without vehicular access), an adjoining lean-to, as well as additional storage options such as a shed and greenhouse. This property is being sold chain-free, making it an appealing renovation project for investors or homebuyers looking to add value in this sought-after area.

Investment Analysis

(CO4 area)
Area Average
£334/sq ft
Avg Rent (weekly)
£326
Avg Yield
5.3%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£25,000 - £40,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
53
Average per month
Market Turnover
47%
Properties sold annually

Local Market Trend (CO4)

Area prices are rising by +4.5% over the last 12 months
3 year growth: +3.9%
5 year growth: +12.9%
Investment Disclaimer: Analysis based on CO4 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Prior Way, Colchester, Essex, CO4
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£811
Based on a loan of £168,750 over 30 years at 4.06% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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