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7
Lot 7
8

13 x Garages to the rear of 123 Parliament Road, Ipswich, IP4 5EP

Sold for £122,000
Garage Block investment, East Ipswich... excellent letting history

Property Details

Description

We are delighted to present to the auction market the freehold interest in this block of 13 residential garages, situated in the densely populated eastern side of Ipswich.
The properties appear to be in good condition being well-maintained by the current owner with up/over doors within a clean and tidy site. The Freeholder is pleased to report an excellent letting history with very few voids within the letting provenance.



No appointment is necessary to view these garages and we recommend a physical inspection to discover the potential of this Lot.

Key Features

  • EAST IPSWICH
  • SOLID INVESTMENT
  • 13 GARAGES
  • LET ON MTHLY. LICENCES
  • BET. £25-£30 PCM EACH
  • WELL-MAINTAINED SITE
  • ALWAYS LET
Tenure

Freehold

EPC

N/A

Viewing

No appointment required

Solicitors

Sara Lawson
Max Engel & Co LLP
8 Hazelwood Road
Northampton
NN1 1LP

Tenancy

All 13 garages are currently let on rolling monthly licences at various rents of between £25 - £30 pcm

Current Yield.

The site is currently yielding £4,428 p.a. which is considered to be well below market value

Location

13 x Garages to the rear of 123 Parliament Road, Ipswich, IP4 5EP

*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.