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6
Lot 6a
7

97 Burrell Road, Ipswich, IP2 8AD

Guide price £250,000 - £275,000*
10 bedroom HMO... with excellent high yield potential

Property Details

Description

Situated within a short walking distance of the railway station, Waterfront, University and Ipswich town centre, is this well-proportioned 10 bedroom investment.
We understand that the building has in the past been registered with Ipswich Borough Council and was compliant to their standards.
The property is being sold with 2 rooms let on licence although these tenants have been served a ‘Section 21’ notice to vacate, thus providing a new owner with the ability to control their occupancy plan.

While the private sector would command a considerably higher rent, based on Ipswich Borough Council’s LHA (local housing allowance) for 1 bedroom with shared facilities of £59.06 pw, the investment as a minimum could yield £30,711 pa.

Key Features

  • 10-BED HMO
  • LHA POT. YIELD £30,700
  • STRONG INVESTMENT
  • POPULAR RENTAL AREA
  • CLOSE IPSWICH T/C
  • WALK TO RAIL STATION
  • CLOSE WATERFRONT
  • VIEWING BY APPOINTMENT
Tenure

Freehold

EPC

G

Viewing

By appointment with the Auctioneer

Solicitors

Mr Andrew Fleming
Blocks Solicitors
2-6 Arcade Street
Ipswich
IP1 1EL

Location

97 Burrell Road, Ipswich, IP2 8AD

*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.