Residential development for sale
Property description & features
- Tenure: Freehold
- Fantastic development opportunity.
- Planning permission granted for conversion into 3 flats and 3 commercial units.
- Situated on Westgate Street, a high footfall area in Ipswich town centre.
- Over 4000sqft of floorspace across 3 floors.
- Planning reference reference: ip/23/00024/ful Ipswich Borough Council Planning Portal.
- Plans were passed in May 2023 and all documents relating to this are available upon request.
- Full GDV and GRV figures available.
- Immediately available to view.
50-54 Westgate Street, Ipswich. - Paul Hubbard Commercial is delighted to present this fantastic commercial and residential investment opportunity in the heart of Ipswich town centre.
Situated on Westgate Street, one of the busiest shopping areas in Ipswich town centre, this property has been home to Belfast Beds for a number of years, and previously has been leased to a national high street chain on a long term lease agreement.
The property was originally 3 separate properties which have now been combined to create one spacious and imposing commercial unit, boasting excellent shop frontage, over 4000sq ft of floorspace set across 2 floors in a fantastic town centre location.
Planning permission has been granted to develop the property into 6 separate units, including 3x ground floor commercial units and 3x first floor residential units.
Plans were passed in May 2023 and all documents relating to this are available upon request, or via the Ipswich Borough Council Planning Portal reference: ip/23/00024/ful
Measurements for the proposed units are as follows:
Ground Floor with new Planning Consent
Shop 1: 53 sq m / 571 sq ft
Shop 2: 66 sq m / 710 sq ft
Shop 3: 45 sq m / 484 sq ft
Commercial Total: 164 sq m / 1,765 sq ft
Residential Flats
Flat 1: 37 sq m / 398 sq ft
Flat 2: 46 sq m / 495 sq ft
Flat 3: 71 sq m / 764 sq ft
Residential Total: 154 sq m / 1658 sq ft
Circulation Space: 72 sq m / 775 sq ft
Store: 9 sq m / 97 sq ft
Overall Floor Area: 399 sq m / 4,295 sq ft
GDV / GRV:
Total GDV £675,000
Total GRV £4,490PCM / £53,880PA
A more comprehensive breakdown of the GDV and GRV is available upon request.
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