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Lot 5
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37 Upper Orwell Street, Ipswich, IP4 1HN

Sold for £78,000
Tenanted investment 11.9% yield... regeneration area, close Ipswich t/c

Property Details

Description

This highly visible tenanted investment is located between an area of the town centre under regeneration and the dynamic Ipswich Waterfront.
Accommodation internally is seen to be well-maintained over 3 storeys: the ground floor is open plan incorporating a kitchen and WC, floor 2 has a large office plus small office/store and floor 3 provides a fully plastered storage area. The property has 5-year Fully Repairing and Insuring (FRI) lease from 2017

Viewed as a solid investment, we consider strong potential also exists for reconfiguration/redevelopment, STPP, in future years.

Key Features

  • LET INVESTMENT
  • 11.9% YIELD
  • 5 YEAR LEASE
  • WELL MAINTAINED
  • CLOSE TOWN CENTRE
  • 3 FLOORS
  • £7140 PA
Tenure

Freehold

EPC

D

Viewing

By appointment with the auctioneers

Solicitors

Mr Mehmet Duzgun
Michael Smith & Co
Clarence House
21 St Margarets Green
Ipswich
IP4 2BN

Tenancy

5 Year FRI lease from 2017

Current Yield.

£7140 pa

Location

37 Upper Orwell Street, Ipswich, IP4 1HN

*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.