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Lot 6
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21 & 21a Constable Road, Felixstowe, Suffolk, IP11 7HN

Guide price £250,000 - £275,000*
Exceptionally high yield...

Property Details

Description

We are delighted to offer for sale this fully compliant, established high-yielding investment opportunity, situated in a good residential area just off Felixstowe town centre.
The freehold comprises of 8 letting units with their own kitchenettes, which each include a small oven, sink and refrigerator. Also within the building are 4 shared bathroom facilities, a small office and the basement has been fitted out as a gym for use by the residents.
The property is seen to be well-maintained and benefits from replacement uPVC sash
style windows throughout. Included within the freehold is the reversionary interest in the ground floor laundrette which has been sold on a long lease providing a peppercorn rent.tenancies:
These are held on licences at a rent of £66 per week. Over the last 12 months, the Vendors can demonstrate 80% occupancy.

Full details can be found in the Legal Pack.



historic yield pa:
Nov ‘13 – Oct ‘14 £26,761

Nov ‘14 – Oct ‘15 £32,500



potential yield pa:
£41,184 – 16.47% (at low Guide)

Key Features

EPC

TBC

Viewing

Thu 19 Nov 13:30 - 14:30
Sat 21 Nov 11:30 - 12:30
Mon 23 Nov 11:00 - 12:00

Solicitors

Mr Gerry Lewis
Gudgeons Prentice Solicitors
Buttermarket
Stowmarket
IP14 1ED

Location

21 & 21a Constable Road, Felixstowe, Suffolk, IP11 7HN

*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.