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Lot 5
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5A-5B Dogs Head Street, Ipswich, Suffolk, IP4 1AE

Sold for £162,000
Prime freehold investment... Redevelopment opportunity (stp)

Property Details

Description

A tenanted three-storey commercial investment situated on the fringe of Ipswich Town Centre. The property enjoys the potential for development into a mixed stock freehold (subject to planning) over the coming years. The current tenant occupies all three floors on single lease at a rent of £10,000 pa, although currently doesn’t use the upper floors to their full potential. With pedestrian access to the rear, there may be an opportunity subject to negotiation with the tenant or when the property becomes vacant, to create a residential unit on the upper floors (subject to planning). Equally, when vacant, and again subject to planning, a new shop front could provide first-floor access and even two smaller commercial units. A solid investment with potential that will appeal to the astute professional investor.

Key Features

  • IPSWICH TOWN CENTRE
  • FREEHOLD COMMERCIAL
  • REDEVELOPMENT POT.
  • THREE STOREY
  • LEASE TO BETFRED
  • VIDEO TOUR ONLINE
  • FLOORPLAN ONLINE
Tenure

Freehold

EPC

D

Viewing

Strictly by appointment with the auctioneers

Solicitors

Ms Sian Taylor
Birkett Long LLP
1 Amphora Place
Sheepen Road
Colchester
CO3 3WG

Tenancy

10 year lease from 03/07/2013

Current Yield.

£10,000 pa

Download Legal Pack

Location

5A-5B Dogs Head Street, Ipswich, Suffolk, IP4 1AE

*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.