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Lot 9
10

41-43 St. Nicholas Street, Ipswich, Suffolk, IP1 1TW

Sold for £452,000
Fantastic investment opportunity... potential 13% yield, 2 shops & 4 flats

Property Details

Description

This Grade II listed three-storey building is located in a prime position of the historic town on the River Orwell in Suffolk. Saint Nicholas St and Saint Peters St have established themselves as the town’s trendy ’boutique’ area. They link the highly regarded wet dock and traditional town centre, thus ensuring high demand from residential and commercial tenants. The property comprises two ground-floor shops, one of which is let to Aspects for over 20 years at a rent of £9,600 pa, and 4 one-bedroom flats on the upper levels. Three of the flats are let with the fourth having recently been refurbished. The vacant shop at 41 St Nicholas Street is ready to be let, with an ERV of £10,000 pa, providing a gross investment yield potential of circa £47,800 pa.

Key Features

  • POPULAR STREET
  • TRENDY AREA
  • GRADE II LISTED
  • FREEHOLD INVESTMENT
  • 4X 1 BED FLATS
  • ENC. GARDEN
  • 2X SHOPS
  • HIGH YIELD POT.
  • ERV – £47,800
  • DETAILED PLANS ONLINE
Tenure

Freehold

EPC

G

Viewing

By appointment

Solicitors

Mr James Southward
Greene & Greene
80 Guildhall Street
Bury St. Edmunds
Suffolk
IP33 1QB

Tenancy

41 - Vacant
43 - £9,600 pa
Flat 1 - £575 pcm / £6,900 pa
Flat 2 - £600 pcm / £7,200 pa
Flat 3 - £600 pcm / £7,200 pa
Flat 4 - Vacant

Current Yield.

£30,900pa
ERV - £47,800pa

Location

41-43 St. Nicholas Street, Ipswich, Suffolk, IP1 1TW

*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 £1,200 inclusive of VAT. Other fees disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.