An excellent freehold commercial investment producing a strong yield from a long lease

Situated on the fringe of the town centre is this spacious double fronted restaurant premises with upper parts comprising 4 rooms and a shower room on the first floor and a further room on the second floor which could provide owner/staff living accommodation. The property has been let on a 25 year repairing and insuring lease from 2009 at a current rent of £21,000 per annum with 3 yearly reviews and is currently trading as Indian Palace Restaurant, extending to over 67’ in depth it can readily accommodate 60 plus customers. The annual yield represents close to 10% of the low Guide Price and therefore represents a first class investment opportunity.

Accommodation

Ground Floor

Restaurant, bar, kitchen, male and female WCs

First Floor

4 rooms & shower room

Second Floor

Storage room

Viewing

Strictly by appointment with the Auctioneers

Services

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

Local Authority

Ipswich Borough Council. Tel: 01473 432000

Solicitors

Thompson Smith & Puxon, Stable 6, Stable Road, Colchester CO2 7GL, Ref: Stephen Firmin, Tel: 01206 574431

Additional Fees

Buyer's Premium - 1.2% (1% + VAT) payable on exchange of contracts

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.