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11
Lot 12

45-49 Upper Brook Street, Ipswich, IP4 1DU

Guide price £200,000 - £250,000*
Town Centre Freehold... prime location, potential high yield/redevelopment

Property Details

Description

Situated opposite Sainsbury’s and Wilko in one of Ipswich’s busiest prime retail areas is this substantial freehold investment/redevelopment opportunity. The ground floor, which has previously been used as a restaurant and also a betting shop, has now become vacant. Upper floors have been converted into residential and are the subject of a 125-year lease from 2016 with a ground rent of £250 pa.We understand that the ground floor has mains water and electricity, enjoys modern welfare facilities and benefits from access to the rear. As the street numbering implies, there may be an opportunity for subdivision to provide smaller, more desirable units within this very prominent, sought after area (subject to planning).

Key Features

  • HIGH PROFILE LOCATION
  • PRIME RETAIL
  • VACANT GROUND FLOOR
  • POTENTIAL HIGH YIELD
  • WELL PRESENTED
  • SCOPE FOR SUBDIVISION
  • FLOORPLANS AVAILABLE
  • VIEWING BY APPOINTMENT
Tenure

Freehold

EPC

D

Viewing

By appointment with the Auctioneers

Solicitors

Mr Maurice Esterkin
Solomon Taylor & Shaw
3 Coach House Yard
Hampstead High Street
London
NW3 1QF

Location

45-49 Upper Brook Street, Ipswich, IP4 1DU

*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.