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Lot 6
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6 – 16 High Street, Ipswich, IP1 3JX

Guide price £450,000 - £500,000 plus VAT*
Prime Freehold town centre block... established yield with strong potential

Property Details

Description

OVERVIEW This art-deco style building offers a unique opportunity to invest in the centre of Ipswich. The property has proved a substantial investment in recent years, consistently yielding a steady £47,600 pa. With the upper floors now vacant, and the evolution of the High Street, we believe there is an opportunity for some redevelopment while still providing a healthy yield.LOCATION
Ipswich boasts an extensive range of leisure and educational facilities and has excellent road and rail connections. The town also enjoys comprehensive commercial and retail sectors, the majority feed from the rejuvenated Cornhill. High Street crosses Westgate Street, which is the main shopping thoroughfare and home of major retailers. This being only meters from M&S and NCP.

Key Features

Tenure

Freehold

EPC

TBC

Viewing

By appointment with the auctioneers

Solicitors

Mr Bradley Powell
Birkett Long LLP
Essex House
42 Crouch Street
Colchester
CO3 3HH

Tenancy

Please see opposite

Current Yield.

£2,416 pcm / £29,000 pa (+VAT)

Location

6 - 16 High Street, Ipswich, IP1 3JX

*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.