A substantial detached freehold investment in the heart of this historic Suffolk village

Situated in the longest village High Street in the country is this impressive Grade II Listed detached property originally dating back to the 18th Century and presenting a Georgian brick façade under a slate roof. Long Melford offers a wide range of amenities with independent shops, restaurants, public houses and is situated some 3 and 14 miles distant from Sudbury and Bury St Edmunds respectively. The property comprises 2 retails units, 4 spacious two bedroom tenanted flats, a store for residential conversion which is currently having the front installed and 5 parking spaces. The retail units, which are trading as an Indian restaurant and a stove/fireplace outlet, have been sold on 999 year leases and each produce a combined Ground Rent of £100 per annum plus Service Charges, they are also liable for three sevenths of the whole building insurance premium, exterior decoration costs and repairs.

Tenure

Freehold

The 4 flats, for which a floor plan is available within the online Legal Pack, are all let on AST’s at a rent of £625 per month and 3 have tenants of at least 6 years standing. We are also advised that, following its conversion to a studio flat, the store to the rear would readily achieve £450 per month. The combined rental income of £30,100, increasing to £35,500 once the studio is let, provides a strong and stable yield together with excellent prospects for capital appreciation on what is a most attractive property in a highly regarded location. This truly is a first class opportunity which will no doubt have strong appeal to many an investor.

Viewing

Open days

Energy Efficiency Rating (EPC)

Current Rating 1 Foundry House: D 2 Foundry House: D 3 Foundry House: D Foundry Villa: E

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Babergh District Council. Tel: 01473 826622

Solicitors

Birketts Solicitors, Brierly Place, New London Road, Chelmsford, Essex CM2 0AP, Ref: Hannah Harbottle, Tel: 01245 211323

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ VAT), payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.