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This property is no longer on the market
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Features and description
- Tenure: Freehold
- Prime Town Centre Location
- Fully Let from January 2024 For 10 Years at a rent of £16,000 pax
- Gross Yield reflecting 10%
- Peppercorn rent with no rent reviews
- First and Second floor flats let at £775 pcm each on AST's
The property comprises a three storey brick building plus small basement. The ground floor and basement are let to Magazin Romanesc Bacau Ltd trading as an Eastern European Food Store on a new 10 year lease from January 2024 with a fifth year break and 3 yearly rent reviews.
The total rental income for the shop and basement is £16,000 per annum and the asking price equates to a Gross Initial Yield of 10%.
There are also two flats, on first and second floor which are let on AST's at rents of £775 pcm each.
The total income is £34,600 per annum
The property is situated in Ipswich Town Centre on the Buttermarket, close to its junction with Upper Brook Street. Neighbouring retail occupiers include The Works, Caffe Nero, The Tooth Club and Oxfam.
Ipswich is the county town of Suffolk with a population of circa 130,000. The town is situated approximately 80 miles north east of London, 43 miles south of Norwich and 18 miles north east of Colchester.
Viewings to be arranged through Hazells Chartered Surveyors on[use Contact Agent Button].
The property is available freehold subject to the tenancies in place.
VAT is applicable on the purchase price. The vendor would consider a sale via a Transfer of Going Concern meaning that no VAT would be payable.
The total rental income for the shop and basement is £16,000 per annum and the asking price equates to a Gross Initial Yield of 10%.
There are also two flats, on first and second floor which are let on AST's at rents of £775 pcm each.
The total income is £34,600 per annum
The property is situated in Ipswich Town Centre on the Buttermarket, close to its junction with Upper Brook Street. Neighbouring retail occupiers include The Works, Caffe Nero, The Tooth Club and Oxfam.
Ipswich is the county town of Suffolk with a population of circa 130,000. The town is situated approximately 80 miles north east of London, 43 miles south of Norwich and 18 miles north east of Colchester.
Viewings to be arranged through Hazells Chartered Surveyors on[use Contact Agent Button].
The property is available freehold subject to the tenancies in place.
VAT is applicable on the purchase price. The vendor would consider a sale via a Transfer of Going Concern meaning that no VAT would be payable.
About this agent
Hazells Chartered Surveyors - Commercial
The Annexe, Short Brackland
Bury St Edmunds
IP33 1EL
01284 644660We are a privately owned fully independent firm of chartered surveyors based in Bury St Edmunds and have been operating throughout the region for the past 25 years. We are regulated by the Royal Institution of Chartered Surveyors (RICS) and are also members of the Association of Residential Letting Agents (ARLA). We offer a range of property services including commercial property sales/lettings, management and lease advisory plus residential lettings and management from our offices in Bury St Edmunds. We are land agents for residential development sites across Norfolk, Suffolk and the region. We seek to provide the best property advice to our clients with unparalleled commitment to achieving results on their behalf. We take pride in providing professional excellence in all the specialist property services that we offer.