A first class freehold investment with a strong yield

Situated in the centre of this bustling market town is this substantial, 3 storey freehold investment comprising 2 retails units with 3 modernised and well presented self-contained flats above. The Vendor has also just spent £4000 on an overhaul of all the windows/doors and re-decoration of the communal areas resulting in a property which is in excellent order throughout. Saxmundham offers a good range of amenities including Waitrose and Tesco supermarkets as well as a railway station with services connecting to London Liverpool Street and is located a short distance from the Suffolk Heritage Coast and the towns of Aldeburgh, Thorpeness and Southwold. The 2 ground floor commercial units were sold on 125 year leases in 2008, whilst the 3 flats are all let on AST’s with the breakdown of rental income as follows: 17 High Street (Retail) – Peppercorn Ground Rent 19a High Street (Retail) – Ground Rent @ £100pa Flat One (First Floor Studio) – AST @ £320pcm (£3840pa) Flat Two (First Floor 2 Bedroom) – AST @ £440pcm (£5280pa) Flat Three (Second Floor 2 Bedroom) – AST @ £440pcm (£5280pa) Total Rent Reserved - £14,500 per annum With a yield of approaching 8% in relation to the Guide Price we believe this to be an excellent investment opportunity.

Tenure

Freehold

Viewing

Open days

Energy Efficiency Rating (EPC)

Current Rating 17 High Street - D 19a High Street - D Flat 1 - C Flat 2 - D Flat 3 - E

Services

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

Local Authority

Suffolk Coastal District Council. Tel: 01394 383789

Solicitors

Sprake & Kingsley, 16 Broad Street, Bungay, Suffolk NR35 1EN, Ref: Mr N Kingsley, Tel: 01986 892721

Additional Fees

Administration Charge - 0.3% including VAT subject to a minimum of £840.00 including VAT

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