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Lot 11
12

3 Tavern Street, Stowmarket, IP14 1PJ

Sold for £130,000
Established residential investment... 5 year contract in central location

Property Details

Description

Situated a stone’s throw from Stowmarket town centre is this established residential investment. We understand from the vendor that the double-fronted 2 story property was the subject of a comprehensive refurbishment program in 2012. Upon completion of the works, it was let on a 5-year contract to Solo Housing who provide housing solutions for single people in East Anglia. Following the suitability of the property for the tenant, they have subsequently entered into a further 5-year contract from August 2019. We also understand from the vendor that the tenancy provides for all maintenance to be completed by the tenant and that it should be returned at the end of the term in the condition it was first let. Please note: we have not conducted an internal inspection, the vendor has provided all information and plans.

Key Features

  • FREEHOLD INVESTMENT
  • SECURE TENANCY
  • 5 YEAR TERM
  • £600 PCM / £7200 PA
  • CENTRAL LOCATION
  • FULLY MODERNISED
  • PLAN ONLINE
Tenure

Freehold

EPC

E

Viewing

No viewings available

Solicitors

Mr Robert Jackson
Gudgeons Prentice Solicitors
Buttermarket
Stowmarket
IP14 1ED

Tenancy

5 year contact from August 2019 to Solo Housing

Current Yield.

£600 pcm / £7200 pa

Location

3 Tavern Street, Stowmarket, IP14 1PJ

*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.