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Lot 8
9

69 Nelson Road, Ipswich, Suffolk, IP4 4DU

Sold for £606,000
Established 14 room HMO yielding £76,740pa... over 16% gross

Property Details

Description

This Lot comprises a freehold, licensed, fourteen-bedroom HMO in Ipswich’s North Eastern sector. With full occupancy, it generates an annual rental income of £76,740, minimal voids support this over several years. It boasts gas-fired central heating, a routinely inspected fire alarm system, three bathrooms and three kitchens, ensuring good accommodation and ratios for shared facilities. The property is situated in a convenient location for easy access to Ipswich town centre, Ipswich Hospital, and the A14 via Woodbridge Road. It also features a garden and some off-road parking. A management company is in place, and summary accounts are available upon request. This HMO is a great investment opportunity with a higher potential return than average.

Key Features

  • 14 BED HMO
  • £6,395 pcm / £76,740 pa
  • FULLY LET
  • GREAT PROPORTIONS
  • HIGH CEILINGS
  • DETAILED PLANS ONLINE
  • PARKING & GARDEN
  • STRONG INVESTMENT
  • EAST IPSWICH
  • CLOSE HOSPITAL/TOWN
Tenure

Freehold

EPC

F

Viewing

By appointment with the Auctioneers

Solicitors

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

Tenancy

14 Rooms let between £400 - £525 pcm.

Current Yield.

£6,395 pcm / £76,740 pa

Location

69 Nelson Road, Ipswich, Suffolk, IP4 4DU

*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.