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9
Lot 10
11

97 Burrell Road, Ipswich, IP2 8AD

Guide price Sold Prior*
10 bedroom HMO... high demand area of Ipswich

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.
Typically with any HMO property, a greater degree of management is required to fully optimise its potential with the current owner able to demonstrate strong demand over his period of ownership. We understand that the building is registered with Ipswich Borough Council and is compliant to their standards.

The property is being sold with 7 of the 10 rooms currently let on rolling 1-month licences yielding £2,060 pcm. The buyer of this property will be given an immediate, exclusive option to purchase Lot 11 – should this option not be exercised, Lot 11 with be withdrawn from the auction.

Key Features

  • 10-BED HMO
  • CURRENT YIELD 11% PA
  • POTENTIAL YIELD 16% PA
  • CLOSE IPSWICH T/C
  • WALK TO RAIL STATION
  • CLOSE WATERFRONT
  • PHOTOS/PLAN AVAILABLE
  • OPTION TO BUY LOT 11
  • DOWNLOAD LEGAL PACK FOR FIGURES/DETAILS
Tenure

Freehold

EPC

G

Viewing

TBC

Solicitors

Mrs Jennifer Carter
Haywards Solicitors
7-9 Tavern Street
Stowmarket
IP14 1PJ

Tenancy

7 x Monthly Licences

Current Yield.

£24,720 pa

Potential Yield.

£35,016 pa

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 £900 inclusive of VAT. \rOther fees/disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.