FOR SALE Fully Let Commercial / Residential Investment
LOCATION: The property is situated in a prominent position on Nacton Road to the South East of Ipswich Town Centre, which is one of the main routes into the town. Other retailers represented in Nacton Road include Tesco, St Elizabeth Hospice, East of England Co-operative Funerals and Betfred.
DESCRIPTION: The property comprises a well presented, rectangular ground floor shop unit with automatic entrance door, full suspended ceiling with recessed air conditioning, rear loading and off street car parking / bin store. There is a separate entrance on Nacton Road, leading to a self contained one bedroom flat above. (Not inspected)
Ground Floor Sales 922 sq ft (85.70 sqm)
ITZA 588 sq ft (54.65 sqm)
Pharmacy 114 sq ft (10.6 sqm)
Stores 389 sq ft (36.20 sqm)
Kitchen 51 sq ft (4.75 sqm)
One Bedroom Flat-Not inspected
BUSINESS RATES: The ground floor is assessed as Shop & Premises, Rateable Value £8,900.
Ist floor flat assessed within Council Tax Band A.
RESTRICTIVE COVENANT: The vendors will impose a restrictive covenant to prevent the property being used for any funeral related business or use.
TENANCIES: The entire ground floor has been let to Suffolk Pharma Ltd on full repairing and insuring terms for 15 years from 31st March 2019, subject to 3 yearly upwards only rent reviews, inside the Landlord and Tenant Act 1954. There are no break options within the lease and the rent payable is £12,000 Pax. The 1 bedroom flat is let to 2 tenants on an Assured Shorthold Tenancy which expired 15 September 2018 and continues on a statutory periodic tenancy basis at a rental of £360 pcm, ie £4,320 pa. The entire proprty therefore produces a gross rental income of £16,320 pa.
LEGAL COSTS: Each party to be responsible for their own costs.
TERMS: The property is available for sale freehold at a guide price of £270,000 – No VAT is payable.
An additional property at 5-7 High Street, Saxmundham is also available.-details upon application.
VIEWING: Strictly by prior appointment through Beane Wass & Box: (01473) 212656 or
Contact: Richard Bertram or Julian Haywood Smith
Subject to Contract