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Site area approx 0.04 hectare (0.1 acre)
Ground floor lock-up shop producing £5,200 pax
First floor 2 bedroom flat producing £4,800 pax
Rear car park site 13 spaces producing £7,020 pax
For sale freehold £325,000 subject to the existing tenancies
Would suit residential redevelopment s.t.p.p.
East Ipswich location close to town centre
Situation The premises are prominently located on one of the main routes into Ipswich town centre, to the east of the town. The premises are within short walking distance of the main town centre sitting between the Bond Street and Orchard Street junctions on St Helens Street, opposite the former county council buildings which are due to be redeveloped.
Description This fully let investment property comprises a ground floor shop with a first floor 2 bedroom flat, and 13 space car park site to the rear.
The property would be suitable for residential redevelopment for either terraced houses or flats subject to planning.
Accommodation (All dimensions and areas approximate) Ground Floor Shop 41.9 sq m 451 sq ft
Tenure and Tenancies The ground floor shop is currently let on a 6 year lease from June 2018 at a rent of £5,200 per annum exclusive. The first floor flat is currently let on an asht at £4,800 per annum. The rear car park site has 13 spaces and currently produces £7,020 per annum. The total rental income is currently £17,020 per annum.
Price The freehold interest of the whole property is available for sale at a price of £325,000 subject to the existing tenancies.
For more information about this property, please contact Penn Commercial, IP2 on +44 1473 679871 * (local rate)
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