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10 Northgate Street, Ipswich, Suffolk, IP1 3BZ

Sold for £119,000
Established Ipswich town centre investment... with P/P for conversion

Property Details

Description

Located within a stone’s throw of the White Horse crossroads in the centre of Ipswich’s main shopping thoroughfare is this 3 storey terraced property. It offers an established tenanted investment together with redevelopment potential. The entire property is currently held on a 10 year, FRI lease from December 2015 at a rent of £8,500 pa.
The building is Grade ll listed. We understand that full Planning Permission and Listed Building consent have been granted for the conversion of the upper floors to form a self-contained residential 1 bedroom unit.

Key Features

  • IPSWICH HIGH STREET
  • FREEHOLD
  • HIGH YIELDING
  • 10 YEAR FRI LEASE
  • P/P FOR CONVERSION
  • PLANS ONLINE
  • VIDEO TOUR ONLINE
Tenure

Freehold

EPC

E

Viewing

By appointment with the auctioneers

Solicitors

Mrs Katie Lockwood
Birkett Long LLP
1 Amphora Place
Sheepen Road
Colchester
CO3 3WG

Tenancy

10 year FRI lease from December 2015

Planning Ref.

IP/20/00274/FUL
IP/20/00273/LBC

Current Yield.

£8,500 pa

Location

10 Northgate Street, Ipswich, Suffolk, 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 £720 inclusive of VAT. \rOther fees/disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.