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51 Wadgate Road, Felixstowe, IP11 2LU

Sold for £38,000
Premises with potential... high-yielding tenanted investment

Property Details

Description

Yielding over 12% at low Guide, this property is currently let as an unmanned Laundrette in Felixstowe, delivering an established investment opportunity.
Sited within a highly populated location the long-standing tenants have successfully maintained this Laundrette business in an area of high demand.
This Lot is offered on a leasehold basis together with the Freehold, which includes the reversionary interest in two residential flats that have been sold off on long leases.

An interesting proposition to both investors and, subject to planning, creative developers who want to maximise the potential of this accommodation.

Key Features

  • HIGH 12% YIELD
  • WELL-ESTABLISHED
  • HIGH DENSITY AREA
  • LONG-STANDING TENANT
  • LEASEHOLD INVESTMENT
  • REVERSIONARY INTEREST
  • POTENTIAL. DEV. (STPP)
  • FULL DETAILS ONLINE
Tenure

Share of Freehold

EPC

TBC

Viewing

No appointment required

Solicitors

Mr Robert Jackson
Gudgeons Prentice Solicitors
Buttermarket
Stowmarket
IP14 1ED

Current Yield.

£300 pcm, £3,600 pa

Location

51 Wadgate Road, Felixstowe, IP11 2LU

*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.