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Guide price
£30,000

Land for sale

Common Farm, Leiston IP16
Auction
Sold STC
Land
Added > 14 days

Key information

TenureFreehold
Council taxAsk agent
BroadbandUltra-fast 1000Mbps *
Mobile signal
EEO2ThreeVodafone

Features and description

  • Tenure: Freehold
  • Corner parcel of land
  • App 88ft max x 66ft road frontage
  • Let on a 3 year AST from 2023
  • Rental income of £7,200 per annum
  • Medium/long term development potential (STPP)
  • Fantastic investment opportunity
  • Guide price : £30,000 - £40,000
  • For sale by livestream auction
  • Unless previously sold or withdrawn prior
  • 11:00 am, Wednesday 12th February 2025

SOLD AT AUCTION FOR £41,000

A parcel of land providing a high rental income

This interesting Freehold investment/speculative Lot comprises a corner parcel of land measuring approximately 88ft at its deepest point by 66ft of road frontage with gated access.

The land has mains water which is charged at £20 per month, electricity which is independently metered, a private drainage system and has been rented out on a 3 year tenancy agreement from 4th September 2023 at a rent of £600 per calendar month (£7,200 per annum) and is utilised to house a caravan which is permanently occupied.

We consider there to be development potential in the medium/long term (STPP) but with an annual return of 24% based on the low end of the Guide there's no doubt this is a fantastic investment opportunity.

Tenure: Freehold

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: £900 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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