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10
Lot 11

34-36 Woodbridge Road, Ipswich, IP4 2EG

Sold for £204,000
Profitable return, East Ipswich t/c... 4 x flats yielding 12.5% at low Guide

Property Details

Description

This highly profitable Freehold tenanted investment, a short stroll from Ipswich town centre, yields 12.5%+ per annum in the form of a pair of 2-storey dwellings split to create 4 x 1-bed flats.
Each flat is configured differently: living room, kitchen, 1 bedroom and bathroom, with open/shared outside space.
Each unit has an established tenant, originally renting on an AST, now reverted to a Periodic arrangement.

The convenient location consistently attracts tenants, however, if the flats become vacant, their tired condition presents an opportunity for an incoming buyer to refurbish, extend or redevelop, subject to planning.

Key Features

  • FREEHOLD
  • TENANTED INVESTMENT
  • 4 x 1-BED FLATS
  • 12.5%+ YIELD
  • EAST IPSWICH T/C
  • TLC REQUIRED
  • RENOVATION OPP.
  • REDEVELOP (STPP.)
  • FLOORPLANS ONLINE
  • 1 VIEWING ARRANGED
Tenure

Freehold

EPC

TBC

Viewing

Sat 23 Sept 12:30 - 13:30

There is no requirement for prior registration to attend one of these published open viewings.

Solicitors

Ms Becky Grimsey
Jackamans Solicitors
Oak House
7 Northgate Street
Ipswich
IP1 3BX

Current Yield.

34a: £420 pcm, £5,040 pa
34b: £400 pcm, £4,800 pa
36a: £400 pcm, £4,800 pa
36b: £350 pcm, £4,200 pa

Total: £1,570 pcm, £18,840 pa

Location

34-36 Woodbridge Road, Ipswich, IP4 2EG

*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.