Next Auction
15
Lot 16
17

67 St. Matthews Street, Ipswich, IP1 3EW

Sold for £495,000
Mixed use tenanted investment, 14% yield... high profile, West Ipswich t/c

Property Details

Description

OVERVIEW A highly attractive investment opportunity currently yielding over 14% per annum at low Guide. This established mixed use opportunity consists of a ground floor lock-up shop with 12 self-contained residential units above and commands a dominant presence serving a high density residential population, ideally located on the fringe of Ipswich town centre.LOCATION
Occupying a high profile position only a few minutes walk from the thriving centre of Ipswich, this location affords a heavy flow of passing traffic within an important arterial ring road. This active residential area and local community has access to a wealth of amenities including shops, restaurants and food outlets plus medical, church and schooling facilities.

Key Features

  • 14% YIELD/£64,160 PA
  • MIXED USE INVESTMENT
  • HIGH PROFILE LOCATION
  • WEST OF IPSWICH T/C
  • EST. RETAIL UNIT
  • 12 x STUDIO FLATS
  • ATTRACTIVE PROSPECT
  • VIEW BY APPOINTMENT
  • CALL 01473 210200
  • LEGAL PACK AVAILABLE
Tenure

Freehold

EPC

Retail 67: D; Flat 1: D, Flat 2: D, Flat 3: D, Flat 4: D, Flat 5: D, Flat 6: D, Flat 7: D, Flat 8: D, Flat 9: E, Flat 10: G, Flat 11: E, Flat 12: E

Tenancy

Flat 1: £360 pcm (01/17)
Flat 2: £400 pcm (04/17)
Flat 3: £360 pcm (05/17)
Flat 4: Nil - Manager's studio apt.
Flat 5: £400 pcm (05/17)
Flat 6: £320 pcm (04/17)
Flat 7 & 8 joined: £400 pcm (08/16)
Flat 9: £400 pcm (05/16)
Flat 10: £360 pcm (09/15)
Flat 11: £320 pcm (06/16)
Flat 12: £360 pcm (07/17)

Ground floor shop
£20,000 pa (5 years from 2016)

Current Yield.

TOTAL: £64,160 pa

Location

67 St. Matthews Street, Ipswich, IP1 3EW

*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.