Map7 bedroom apartment
Apartment
7 beds
7 baths
Key information
Tenure: Freehold
Council tax: Band B
Features and description
- Tenure: Freehold
- Attractive market town globally recognised as the headquarters of flat racing with good links to both Cambridge and London.
- Prominent position on the High Street opposite Tattersalls Bloodstock Sale Grounds.
- Substantial period three storey building and two storey coach house with off street courtyard parking.
- Ground floor office (1,521 sq ft) let under a 10 year lease (over 9 years remaining) with a passing rent of £14,200 per annum.
- Four apartments (total 3,647sq ft) converted from former office space in 2021 with the remainder of a 10 year build warranty and remaining appliance warranties.
- Fully let under Assured Shorthold Tenancies with combined rent passing of £57,600
- Off street parking for 14 cars located in rear courtyard
AN EXCITING OPPORTUNITY TO ACQUIRE A SIGNIFICANT MIXED RESIDENTIAL AND COMMERCIAL INVESTMENT PROPERTY IN A PROMINENT HIGH STREET LOCATION WITH CURRENT PASSING RENT OF £72,000 PROVIDING A GROSS YIELD OF 6%
THE PROPERTY
An exciting opportunity to purchase a recently renovated and converted residential and existing commercial freehold investment property consisting of a substantial office, four apartments (three, two bed and one bed studio) and 14 parking spaces in a prominent position on the High Street.
168 High Street comprises a prestigious traditional brick building arranged over three floors to the front with converted stables and a former coach house to the rear.
Boasting many original features including an imposing street frontage, bay sash windows, fireplaces, picture rails and high ceilings, the ground floor office is occupied by Jackson-Stops estate agents on a fixed 10 year lease with over 9 years remaining.
The office consists of an entrance hall, two large offices, meeting room, store room, break room, two w/c’s and has six allocated parking spaces along with a small garden to the rear. There is a basement not included within the lease.
There are four apartments – two in the main building with dedicated communal entrance and two in the coach house to the rear, each with a separate direct entrance.
The apartments provide open plan living areas, with kitchen/sitting/dining, three with two bedrooms with en suite to the main and a one bed studio apartment with bathroom. Each apartment has two parking spaces.
LOCATION
168 High Street occupies a highly sought after location on the High Street within walking distance of the town centre, train station, Tattersalls sales rooms and amenities. Newmarket is set in attractive countryside on the Suffolk/Cambridgeshire border and is world famous as the headquarters of British horseracing. The town is home to many racing institutions including the National Stud, the National Horseracing Museum, Tattersalls and The Jockey Club. Some of the finest racing in the world is seen on Newmarket’s two racecourses: The Rowley Mile and The July Course. Newmarket itself provides a good range of amenities including schools, shops, supermarkets, hotels, restaurants and leisure facilities, including health clubs, a swimming pool and golf club; Cambridge and Bury St Edmunds offer further amenities. There is excellent access to the A14 and A11 (M11). There is a branch line connection from Newmarket to Cambridge and Ipswich. Cambridge, Audley End and Whittlesford Parkway offer direct rail lines into London, with the fastest trains taking under one hour. Stansted International Airport is approximately forty minutes’ drive.
PROPERTY INFORMATION
SERVICES: Mains water, gas, electricity and drainage. Gas fired central heating.
TENURE: The property is freehold
CHARGES:
Council Tax: Current annual charge:
Flats 1, 2 and 4: Band B £1,630.72 for the current year
Flat 3: Band C £1,863.68 for the current year
Office Rateable Value: £8,500
RENTAL INCOME:
Office - £14,200 per annum – commenced 14.12.23
Flat 1 - £16,200 per annum – commenced 04/01/23
Flat 2 - £13,800 per annum – commenced 01/12/22
Flat 3 - £15,600 per annum – commenced 12/12/22
Flat 4 - £12,000 per annum – commenced 25/11/22
LOCAL AUTHORITY: West Suffolk Council.
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BROADBAND SPEED: Ofgem states speeds available up to 1,000mbps
MOBILE SIGNAL/COVERAGE: Yes
VIEWING: Strictly by appointment only through sole agent: Jackson-Stops –[use Contact Agent Button]
THE PROPERTY
An exciting opportunity to purchase a recently renovated and converted residential and existing commercial freehold investment property consisting of a substantial office, four apartments (three, two bed and one bed studio) and 14 parking spaces in a prominent position on the High Street.
168 High Street comprises a prestigious traditional brick building arranged over three floors to the front with converted stables and a former coach house to the rear.
Boasting many original features including an imposing street frontage, bay sash windows, fireplaces, picture rails and high ceilings, the ground floor office is occupied by Jackson-Stops estate agents on a fixed 10 year lease with over 9 years remaining.
The office consists of an entrance hall, two large offices, meeting room, store room, break room, two w/c’s and has six allocated parking spaces along with a small garden to the rear. There is a basement not included within the lease.
There are four apartments – two in the main building with dedicated communal entrance and two in the coach house to the rear, each with a separate direct entrance.
The apartments provide open plan living areas, with kitchen/sitting/dining, three with two bedrooms with en suite to the main and a one bed studio apartment with bathroom. Each apartment has two parking spaces.
LOCATION
168 High Street occupies a highly sought after location on the High Street within walking distance of the town centre, train station, Tattersalls sales rooms and amenities. Newmarket is set in attractive countryside on the Suffolk/Cambridgeshire border and is world famous as the headquarters of British horseracing. The town is home to many racing institutions including the National Stud, the National Horseracing Museum, Tattersalls and The Jockey Club. Some of the finest racing in the world is seen on Newmarket’s two racecourses: The Rowley Mile and The July Course. Newmarket itself provides a good range of amenities including schools, shops, supermarkets, hotels, restaurants and leisure facilities, including health clubs, a swimming pool and golf club; Cambridge and Bury St Edmunds offer further amenities. There is excellent access to the A14 and A11 (M11). There is a branch line connection from Newmarket to Cambridge and Ipswich. Cambridge, Audley End and Whittlesford Parkway offer direct rail lines into London, with the fastest trains taking under one hour. Stansted International Airport is approximately forty minutes’ drive.
PROPERTY INFORMATION
SERVICES: Mains water, gas, electricity and drainage. Gas fired central heating.
TENURE: The property is freehold
CHARGES:
Council Tax: Current annual charge:
Flats 1, 2 and 4: Band B £1,630.72 for the current year
Flat 3: Band C £1,863.68 for the current year
Office Rateable Value: £8,500
RENTAL INCOME:
Office - £14,200 per annum – commenced 14.12.23
Flat 1 - £16,200 per annum – commenced 04/01/23
Flat 2 - £13,800 per annum – commenced 01/12/22
Flat 3 - £15,600 per annum – commenced 12/12/22
Flat 4 - £12,000 per annum – commenced 25/11/22
LOCAL AUTHORITY: West Suffolk Council.
[use Contact Agent Button]
BROADBAND SPEED: Ofgem states speeds available up to 1,000mbps
MOBILE SIGNAL/COVERAGE: Yes
VIEWING: Strictly by appointment only through sole agent: Jackson-Stops –[use Contact Agent Button]
Property information from this agent
About this agent
Jackson-Stops offers a bespoke approach to residential property, with unrivalled regional experts across over 40 offices nationwide providing specialist advice on sales, acquisitions, lettings, valuation, country houses, farms and estates, listed buildings, residential development, including development consultancy, new homes sales, international property, leasehold enfranchisement, professional services and mortgages.