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

Sold for £87,500
Yielding 11%+... tenanted investment, regeneration area, close Ipswich t/c

Property Details

Description

Interesting tenanted investment yielding 11%+ at low Guide, highly visible 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.
A qualified professional has signed up to a recent 5-year Fully Repairing and Insuring (FRI) lease reviewed on an upwards only basis in Year 3.

Considered a safe yet solid investment, strong potential also exists for reconfiguration/redevelopment, STPP, in future years.

Key Features

  • IPSWICH T/C
  • REGENERATION AREA
  • 11%+ ANNUAL YIELD
  • REPUTABLE TENANT
  • 5-YEAR FRI LEASE
  • OVER 3 FLOORS
  • CURRENTLY OFFICE
  • SOLID INVESTMENT
  • FLOORPLAN ONLINE
  • LEGAL PACK ONLINE
Tenure

Freehold

EPC

TBC

Viewing

Strictly by appointment with the Auctioneers

Solicitors

Mr Chris Kennedy
Kingsley David Solicitors
Shetlon House
High Street
Woburn Sands
Milton Keynes
MK17 8SD

Tenancy

5 year FRI lease from March 2017

Current Yield.

£7,140 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 £900 inclusive of VAT. \rOther fees/disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.