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Lot 16
17

68 Upper Orwell Street, Ipswich, IP4 1HR

Sold for £75,000
Retail investment, close Ipswich t/c... long-standing, established tenant

Property Details

Description

We are pleased to bring to the auction market this retail investment proposition, sited in an area undergoing regeneration between Ipswich town centre and the rejuvenated Waterfront.
The area has been identified for further investment, known locally as the ‘Mint Quarter’.
The unit has enjoyed the benefit of the same established occupant, now midway through their second decade of tenancy, which has always taken the form of an annual licence, up for renewal in the Spring of 2017.



Current yielding £550 pcm/£6,600 p.a., this is a realistic return for a typical retail/commercial property in this location.



Interior photos available upon request.

Key Features

  • CLOSE IPSWICH T/C
  • NEAR WATERFRONT
  • REGENERATION
  • UP-AND-COMING AREA
  • RETAIL INVESTMENT
  • ESTABLISHED TENANT
  • WELL-MAINTAINED
  • FLOORPLAN ONLINE
Tenure

Freehold

EPC

D

Viewing

By appointment with the Auctioneers

Solicitors

Mr Mark Lomas
Hayward Moon Property Lawyers
Connexions
159 Princes Street
Ipswich
IP1 1QJ

Current Yield.

£6,600 p.a.

Location

68 Upper Orwell Street, Ipswich, IP4 1HR

*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.