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10 Northgate Street, Ipswich, IP1 3BZ

Guide price £90,000 - £110,000*
Established Ipswich town centre investment... with further potential

Property Details

Description

Located within a stones throw of the White Horse cross roads in the centre of Ipswich’s main shopping thoroughfare is this 3 storey terraced property. It offers an established tenanted investment together with some longer term redevelopment potential, subject to planning. The entire property is currently held on a 10 year, FRI lease from December 2015 at a rent of £8,000 pa. We understand that the building is Grade ll listed and as well as enjoying glazed road frontage further benefits from pedestrian access to the rear and a small yard area.

Floorplans are available online which demonstrate the possible residential conversion of the first and second floors subject to the necessary permissions being forthcoming.

Key Features

  • IPSWICH TOWN CENTRE
  • STRONG YIELD
  • 10 YEAR LEASE FROM ’15
  • GRADE II LISTED
  • POT. RESIDENTIAL
  • FLOORPLAN ONLINE
Tenure

Freehold

EPC

E

Viewing

By appointment with the auctioneers

Solicitors

Mr Kurt Goddard
Birkett Long LLP
Essex House
42 Crouch Street
Colchester
CO3 3HH

Tenancy

10 year FRI lease from December 2015.

Current Yield.

£8,000 pa.

Location

10 Northgate Street, Ipswich, IP1 3BZ

*Guide prices are provided as an indication of a vendor’s minimum expectation and the level at which the reserve is set. Properties may not always sell within this guide and this figure may change at any time prior to the auction. The sale price will be dependent upon bidding in the auction room and on the Vendors’ instructions.

Reserve Price Each property will be sold subject to a reserve price, which will be set within, or below, the guide price range or no more than 10% above a single figure guide. This is a confidential figure set between the Vendor and the Auctioneer and is a figure below which the Auctioneer cannot sell the property.

Additional Fees All buyers are liable to pay an Administration Charge of £900 inclusive of VAT. \rOther fees/disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.