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Lot 4

105-109 Ipswich Street, Stowmarket, Suffolk, IP14 1BB

Sold for £200,000
3x Freehold self contained flats with strong yield... Stowmarket Town Centre

Property Details

Description

This well-proportioned three-story property is located in the heart of Stowmarket town centre, opposite the cinema and pay and display municipal parking facility, and consists of three self-contained, one-bedroom flats. All three flats are currently tenanted on a periodic basis, having first been occupied on 6-month AST’s, two commencing in 2013 and one in 2014, with the current yield being £14,700 pa. The market town of Stowmarket enjoys a comprehensive selection of small-town facilities; education, shopping, leisure and both road and rail communication. An opportunity exists to refurbish and renovate to modern-day standards resulting in a substantial, highly desirable, easy-to-let investment. Priced for the auction market, this Lot will generate strong interest from lateral thinking speculative developers.

Key Features

  • TENANTED INVESTMENT
  • FREEHOLD
  • 3X FLATS
  • 10%+ YIELD
  • STOWMARKET TOWN CENTRE
  • SOME IMPROVEMENT REQUIRED
  • IDEAL INVESTMENT OPP.
  • VIDEO TOUR ONLINE
Tenure

Freehold

EPC

105 - TBC 107 - TBC 109 - TBC

Viewing

By appointment with the Auctioneers

Solicitors

Mr Robert Jackson
Gudgeons Prentice Solicitors
Buttermarket
Stowmarket
IP14 1ED

Tenancy

105 - 6 Month AST from 14'
107 - 6 Month AST from 13'
109 - 6 Month AST from 13'

Current Yield.

105 - £425 pcm / £5,100 pa
107 - £400 pcm / £4,800 pa
109 - £400 pcm / £4,800 pa
£1,225 pcm / £14,700 pa

Download Legal Pack

Location

105-109 Ipswich Street, Stowmarket, Suffolk, IP14 1BB

*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.