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Flat 1 – 13, 116 High Street, Hadleigh, Ipswich, Suffolk, IP7 5EL

Sold for £610,000
High yielding freehold residential investment... 13 self-contained flats

Property Details

Description

This imposing three-story, Georgian style, investment property is located in the centre of this thriving ancient market town of Hadleigh some 10 miles east of Ipswich and 15 miles north of Colchester. Originally the property would have enjoyed spacious accommodation which has subsequently been converted to form thirteen totally self-contained studio flats. Each unit has its own kitchen and bathroom together with independent electricity supplies. The freehold property extends to include parking at the rear. With a high demand, the vendor has enjoyed a very strong yield with limited voids. At the time of production, 12/13 flats were let on AST’s, yielding £4,265 pcm / £51,180pa. Some of these tenancies are underlet to longstanding tenants and there is a Gross yield potential circa. £62,500pa.

Key Features

  • 13 STUDIO FLATS
  • INDEPENDENT UTILITIES
  • CAR PARK AT REAR
  • 12/13 LET
  • YIELD ENHANCEMENT POT
  • FLOORPLAN ONLINE
  • VIDEO TOUR ONLINE
Tenure

Freehold

EPC

1-13: E

Viewing

Strictly by appointment with the Auctioneers

Solicitors

Mrs Beth Greig
Holmes & Hills
Bocking End
Braintree
CM7 9AJ

Current Yield.

£4,265 pcm / £51,180 pa

Potential Yield.

£62,400 pa

Location

Flat 1 - 13, 116 High Street, Hadleigh, Ipswich, Suffolk, IP7 5EL

*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.