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Lot 4
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33 & 33a Foxhall Road, Ipswich, IP3 8JU

Guide price Withdrawn*
Mixed stock established investment... yield in excess of 10%

Property Details

Description

We are delighted to bring to the auction market this mixed stock, high yielding investment which comprises of a ground floor self-contained tenanted retail unit, and first floor tenanted residential unit.
The shop has been let as a tanning salon since 2002 and has a loyal, established clientele with the current lease due to be renewed in December 2020. It is fitted out with 6 tanning booths together with domestic facilities.

The first floor has autonomous access from the rear and is presented as a 1 bedroom self-contained flat with double glazing and electric heating (n/t).

With a combined rent in excess of £12,000 pa this investment demonstrates a yield in excess of 10% at low guide.

Key Features

  • 10%+ YIELD
  • 2X INCOMES
  • EAST IPSWICH
  • 1-BED FLAT
  • ESTABLISHED COMMERCIAL TENANT
Tenure

Freehold

EPC

33: TBA 33a: G

Viewing

Sat 4 May 11:00 - 12:00

Solicitors

Mr Mark Lomas
Hayward Moon Property Lawyers
Connexions
159 Princes Street
Ipswich
IP1 1QJ

Tenancy

33 Shop:
Lease from Feb 2002 to Dec 2020
33a Flat:
Periodic
Original AST from Mar 2017

Current Yield.

Shop - £600 pcm / £7200 pa
Flat - £425 pcm / £5100 pa
Total - £1025 pcm / £12300 pa

Location

33 & 33a Foxhall Road, Ipswich, IP3 8JU

*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.