Retail property (high street)

For Sale By Timed Online Auction - 1st August 2024

Two adjoining, 3 storey commercial properties with basement formerly used as restaurant, estate agents, tattoo parlour and other commercial uses. 

34 St Peters Street is fully vacant following relocation by Keystone Estate Agents. 32 St Peters Street is let as a whole to the current tenant, trading as Crafty Baba on a 3 year Commercial Lease by Reference from 29.08.23 at a rental of £11,500 pa increasing to £12,000 in 2025.

Location
St Nicholas Street, and St Peters Street which adjoin, connects the town centre with the popular Waterfront area and have become a specialist retail street with bars and restaurants. The street has been improved with hard landscaping and there is some on street carparking and public car parks nearby. 

Directions
For those using the What3Words app: ///taken.fortunate.proud

Description
Two adjoining, 3 storey commercial properties with basement formerly used as restaurant, estate agents, tattoo parlour and other commercial uses. 

34 St Peters Street is fully vacant following relocation by Keystone Estate Agents. 32 St Peters Street is let as a whole to the current tenant, trading as Crafty Baba on a 3 year commercial lease by reference from 29.08.23 at a rental of £11,500 pa increasing to £12,000 pa in 2025.

The Accommodation

34 St Peters Street 

Description 
Basement 10.3 Sqm  110 Sq Ft
Ground Floor 28.8 Sqm  311 Sq Ft
First Floor 30.8 Sqm  332 Sq Ft
Second Floor 33.3 Sqm  359 Sq Ft
TOTAL 103.4 Sqm  1112 Sq Ft

32 St Peters Street

Description  
Basement 14.1 Sqm 151 Sq Ft
Ground Floor 30.8 Sqm 332 Sq Ft
First Floor 30.5 Sqm 329 Sq Ft
Second Floor 38.9 Sqm 418 Sq Ft
TOTAL 114.3 Sqm 1230 Sq Ft

Planning
The properties are in an Area of Archaeological Importance and within Flood Zone 2 (in 2022). The properties have had previous varied uses including D1, Class A2 and restaurant use. The most recent uses are within Use Class E. The properties may have potential for future residential conversion, subject to obtaining vacant possession and all necessary permissions from Ipswich Borough Council.

Terms
The property is offered for sale by timed auction at a Guide Price of £250,000 on 28th July 2024. There is a full legal pack available. There are fire/access doors between the two properties at first and second floor levels as well as rear fire escape access crossing 30 St Peters Street into an adjoining yard/car park.

Tenure
Freehold, subject to a single tenancy of 32 St Peters Street.

Services
Both properties are served by mains water, main drainage and electricity.
 
Business Rates
The properties are currently assessed as 34—Shop and Premises—Rateable value £9,000 and 32—Shop and Premises—Rateable value £9,700. 

VAT
Not applicable. 

Local Authority
Ipswich Borough Council

NOTES
1.  Every care has been taken with the preparation of these particulars, but complete accuracy cannot be guaranteed.  If there is any point, which  is of particular importance to you, please obtain professional confirmation. Alternatively, we will be pleased to check the information for you.  These Particulars do not constitute a contract or part of a contract.  All measurements quoted are approximate.  The Fixtures, Fittings & Appliances have not been tested and therefore no guarantee can be given that they are in working order.  Photographs are reproduced for general information and it cannot be inferred that any item shown is included.  No guarantee can be given that any planning permission or listed building consent or building regulations have been applied for or approved. The agents have not been made aware of any covenants or restrictions that may impact the property, unless stated otherwise.  Any site plans used in the particulars are indicative only and buyers should rely on the Land Registry/transfer plan. 

2. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 require all Estate Agents to obtain sellers’ and buyers’ identity.

3. Photographs taken in 2022.
 
July 2024