FOR SALE FREEHOLD RETAIL & RESIDENTIAL INVESTMENT
• Large Vacant 5 Room Flat
• Shop Let on New 10 Year FRI Lease
• Close to Ipswich Town Centre
LOCATION: Situated close to the junction of Orwell Place and Tacket Street and between the town centre and Education Quarter (University Campus Suffolk and Suffolk College.)
DESCRIPTION: Ground Floor and basement commercial shop unit with glazed shop front and security grill. The ground floor has full laminate flooring throughout, suspended ceiling with inset lighting and separate rear W.C. The first and second floors comprise an extensive residential flat with separate access from Tacket Street and provides 5 rooms; Kitchen, 2 bathrooms / W.C and a roof terrace.
Gross frontage 5.62 sqm
Net internal frontage 4.57 mts
Depth of shop 13.95 mts
Clear height 2.55 mts
1st FLOOR FLAT ACCOMMODATION:
Sitting Room: 14.8 x 12.4 ft
Kitchen: 13.7 x 8.1 ft
Living Room: 16.3 x 12.4 ft
2nd FLOOR FLAT ACCOMMODATION:
Bedroom 1: 15.7 x 12.6 ft
Bedroom 2: 14.7 x 12.4 ft
Bedroom 3: 8.11 x 8.3 ft
SERVICES: All mains services are provided to the property including mains electricity, mains drainage and mains water. New electric consumer unit recently installed. The flat has central heating installed but requires a new gas supply and boiler.
BUSINESS RATES: The property is assessed as Shop and Premises. RV £8,400 in the 2017 Valuation List.
COUNCIL TAX: The first and second floors are assessed as a Flat within Council Tax Band A.
TENANCY: The ground floor and basement are let to Mr M Abubaker on a new 10 year full Repairing and Insuring lease at a rental of £10,000 PAX subject to an upwards only rent review at the 5th year. A copy of the lease is available upon request.
PLANNING: The ground floor has permission for Class A1 Retail. The residential flat may be suitable for further sub-division or a House of Mulitple Occupation. Please contact Ipswich Borough Council Planning Department. Tel: 01473 432000.
TERMS: The freehold interest is available subject to and with the benefit of the basement and ground floor tenancy. Offers in the region of £250,000. Alternatively the residential flat could be purchased separately with full vacant possession. Offers in excess of £125,000.
LEGAL FEES: All parties to be responsible for their own legal costs incurred in this transaction.
VIEWING: By prior appointment with the joint agents:
Beane Wass & Box
Tel: (01473) 212656
Contact: Richard Bertram or Julian Haywood Smith
Woodcock and Son
Tel: (01473) 233355
Contact: John Woodcock or Richard Bramley