A solid retail investment with upper parts for residential development

Situated in the very heart of the town centre is this prime freehold investment/development opportunity which currently produces a strong yield with potential for considerable enhancement. Ipswich is Suffolk’s county town and offers a broad range of shopping, schooling and recreational amenities and mainline rail links to London Liverpool Street station with a journey time of around 70 minutes. The property comprises a ground floor retail unit currently operating as an amusement arcade and let on a 15 year lease from 2015 at a rent of £25,000 per annum. The first and second floors which require improvement total around 1300 sq ft and offer an existing 2 bedroom flat on the second floor along with additional accommodation on the first floor which also has potential to be a self contained unit. We also believe there is scope to convert into an HMO, subject to Planning Permission. The existing rental income alone would potentially see the majority of the purchase price recouped during the remainder of the lease and therefore we believe this to be a first class acquisition.

Tenure

Freehold

Viewing

Please call the Auctioneers - 01473 558888

Energy Efficiency Rating (EPC)

Current Rating C & E

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

BBS Law, 1st Floor, The Edge, Clowes Street, Manchester M3 5NA, Ref: Daniel Berger, Tel: 0161 832 2500

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.