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6a, 6b, 8a & 8b Station Road West, Stowmarket, Suffolk, IP14 1ES

Sold for £278,000
Town Centre freehold investment... 4x 1-bedroom flats

Property Details

Description

This freehold investment opportunity is situated in the centre of the well-serviced market town of Stowmarket, which lies adjacent to the A14 trunk road, equally distant between Bury St Edmunds and the county town of Ipswich. In 2008 the property was converted into four self-contained 1-bedroom flats, two on the ground floor with courtyard gardens and the second pair spanning the first and second floors. All four flats are currently let on AST’s, now reverted to Periodic Tenancies, and offer a stable yield of £23,376 pa. However, we understand from the letting agents that the rents are below market value, and there is an opportunity for yield enhancement. Each flat enjoys D/G, electric heating and modern kitchens and bathrooms. The upper flats would benefit from some light cosmetic enhancement.

Key Features

  • TOWN CENTRE LOCATION
  • 4X FLATS
  • £1,948 pcm / £23,376 pa
  • FREEHOLD INVESTMENT
  • UPVC D/G
  • SELF CONTAINED UNITS
  • HIGH YIELD
  • ALL EPC ‘D’
  • PLANS ONLINE
Tenure

Freehold

EPC

D

Viewing

Sat 18 Feb 09:30 - 10:30

Solicitors

Mr Andrew Jacobs
Andrew Jacobs Conveyancing
Unit L, Betts Avenue
Martlesham Heath Business Park
IP5 3RB

Tenancy

6a - AST from 01/2021
6b - AST from 05/2016
8a - AST from 02/2018
8b - AST from 10/2012

Current Yield.

6a - £525 pcm
6b - £473 pcm
8a - £500 pcm
8b - £450 pcm
£1,948 pcm / £23,376 pa

Location

6a, 6b, 8a & 8b Station Road West, Stowmarket, Suffolk, IP14 1ES

*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.