For Sale By Auction | 14:00, 14 February 2019 | Lot 43

19-23 Princes Street, Ipswich, Suffolk, IP1 1PH

Sold £350,000

  • Office
  • Tenure: Freehold

Call the team on 01473 558 888 for more information

Auction Date

Thu 14/02/2019

Auction Time

14:00

Auction Venue

The Wolsey Room Holiday Inn, London Road, Ipswich, IP2 0UA

Prime freehold commercial investment with a strong yield

Situated in the heart of town along one of its most prestigious roads is this most attractive building providing a first class freehold investment opportunity. The county town of Ipswich offers a broad range of shopping, schooling and recreational facilities along with mainline rail links to London Liverpool Street with a journey time of around 70 minutes. The property appears to be in excellent order throughout and extends to around 3500 sq ft over 4 levels including the basement. It is fully let on 3 leases to businesses in the optical healthcare, fitness and care assistance sectors respectively and generates an income of £27,150 per annum. Full details are available within the online Legal Pack. In the longer term, potential for residential usage on the upper floors is seen as a possibility (subject to Planning Consent) adding another dimension to this exciting opportunity.

Tenure

Freehold

Ground Floor/Basement Lease

5 years from 22-05-18 at £16,000 per annum

First Floor Lease

3 years from 01-02-18 at £5400 per annum

Second Floor Lease

5 years from 08-06-18 at £5750 per annum

Each leaseholder also pays a £200 per annum service charge.

Viewing

By Appointment please call Auctioneers on 01473 558 888

Energy Efficiency Rating (EPC)

Current Rating 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

Solicitors

Hayward Moon, 87 Whiting Street, Bury St Edmunds, IP33 1PD, Ref: Nicholas Moon, Tel: 01284 727290

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £840 inc 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.