72 Wallace Road – HMO

FOR SALE – TERRACED 2 STOREY HOUSE IN MULTIPLE OCCUPATION – Fully let and licenced HMO for 6 rooms Gross rental income £33,384 p.a – Potential for expansion to 9 rooms, STP / HMO Licence – Potential to sell parts of substantial rear garden.

FOR SALE – TERRACED 2 STOREY HOUSE IN MULTIPLE OCCUPATION

LOCATION: The subject property is located just off Bramford Lane on the north western side of Ipswich town centre, close to the A14 in a densely populated and convenient part of the town.

ACCOMMODATION: The property comprises a former end of terrace house which was converted some 3 / 4 years ago to create a House of Multiple Occupation (HMO) which is licenced for 6 double bedrooms. The property benefits from one off street car parking space to the front with separate side access under a covered walkway which leads to a substantial rear garden as well as a Secondary access to the house.

The property provides the following accommodation:

Kitchen 3.08 mts x 2.75 mts
Fully fitted kitchen with hob, microwave oven
Conservatory 3.3 mts x 3.78 mts
Rear W.C Housing gas fired boiler
Access to rear garden
Rooms 1-7 Double bedrooms
Lounge 3.25 mts x 3.3 mts
Separate shower
Shower / W.C
Cleaning cupboard

All rooms are let on a fully furnished basis and include bed, mattress, bedside table, chest of drawers and wardrobe.

SERVICES: The property is served by all mains services; water, electricity and foul drainage and there is a modern gas fired boiler. The property also includes the ability to separately meter individual rooms.

PLANNING: There are historic planning approvals for alterations and conversion in 1952 and 1954 – the latter being conversion of garage into living accommodation. The property has a current HMO licence registered with Ipswich Borough Council. (Cost £120 per unit)

COUNCIL TAX: Band B

EPC: D65

TENANCY: The entire property is let to YMCA Trinity Group on a 2 year internal repairing and insuring lease agreement from 1st April 2018, expiring 31st March 2020, producing current income of £33,384 p.a. The tenant may be prepared to extend this agreement by negotiation. The rent payable is monthly in advance and the Landlord is responsible for the structure, boiler, water heaters, showers etc. A copy of the agreement is available upon request.

LEGAL COSTS: Each party to be responsible for their own legal costs incurred in any transaction.

TERMS: The property is available freehold as a going concern at £260,000. There are various opportunities to extend and refurbish the proeprty to create a 9 room HMO subject to obtaining the necessary planning permission and HMO licence. Drawings are available upon request. In addition, it may be possible to negoatiate part disposal of the substantial rear garden to adjoining owners as well as to possibly infill the ground floor covered access way, subject to planning permission.  Nb There are established rights of way to 74 Wallace Road and beyond rear gardens.

VIEWING: Strictly by prior appointment through Beane Wass & Box onTel: (01473) 212656 or E-Mail: enquiries@bw-b.co.uk

Contact: Richard Bertram or Julian Haywood Smith

SUBJECT TO CONTRACT