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Guide price
£350,000

Mixed use for sale

Felixstowe IP11
Auction
EPC rating: B
Mixed use
Added > 14 days

Features and description

  • Tenure: Freehold
  • 1,000 sq/ft licenced cafe/bar
  • Fully refurbished one bed first floor flat
  • Tenanted second floor studio flat
  • Potential income of £35,000 - £40,000 per annum
  • Unique freehold investment opportunity
  • Guide Price: £350,000
  • For sale by livestream auction
  • Unless previously sold or withdrawn prior
  • 11:00am, Wednesday 12th February 2025

FOR SALE BY LIVESTREAM AUCTION ON WEDNESDAY 12TH FEBRUARY AT 11:00AM
TO REGISTER FOR LEGAL PACKS AND BIDDING INSTRUCTIONS PLEASE VISIT OUR WEBSITE

A unique opportunity to acquire a fully licensed cafe/bar with 2 flats above

Situated in the heart of this Suffolk Coast town is this freehold licenced bar with two independently accessed flats above.

The cafe/bar premises extends to approximately 1,000 sq/ft (93.6 sq/m) with space for around 40 covers, planning has also been approved for pavement tables and is just awaiting Highways approval.

The first floor flat is newly refurbished and ready for immediate occupation, it has been let as an Airbnb on a part time basis over the last 18 months generating £20,000 of income which could easily be enhanced further or tenanted on a standard AST for a fixed term. The second floor studio flat is currently let on a periodic AST to a long-standing tenant at a current rent of £707 per calendar month (£8,484 per annum) increasing to £770 per calendar month (£9,240 per annum) in May 2025.

It is considered the premises as a whole could generate a rental income of £40,000+ per annum giving well over 10% annual yield making this an unmissable investment opportunity.

Council Tax Bands A, A

Tenure: Freehold

EPC Rating: B, C, D

Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Buyer's Premium Fee: £1140 inc VAT payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

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About this agent

Auction House - East Anglia
Auction House - East Anglia
The Barn, Newmarket Road Cringleford Norwich, Norfolk NR4 6UE
01603 398879
Full profileProperty listings
The Auction House team have been holding auctions in East Anglia for over fifteen years. We originally operated under the Tops name, then as Tops Auction
House. We have been the Eastern Region’s leading Land and Property auctioneers since 2002 and are highly respected in the area. Sale numbers have grown
over the period to over 400 properties per year with success rates averaging out at well over 80% since 2004. Auction House East Anglia draws entries for its
auction room in Norwich from a wide geographical area and is supported by a number of market and coastal town Introducer Agents who provi... Show more
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