A prime town centre investment with a strong yield

Situated in the heart of town opposite the Corn Exchange is this outstanding Freehold mixed use investment comprising 2 retail units with 1 and 2 bedroom flats above. The larger of the retail units is trading as a cafe/shop and is let on a 10 year lease from 2015 at a current rent of £9,450 per annum, the adjoining small retail unit is vacant but was previously let to a florist for £5,000 per annum. The flats above are both on rolling Assured Shorthold Tenancies at rents of £525 and £665 per calendar month respectively (£6,300 & £7,980 per annum). With an overall potential annual yield exceeding 10% of the low Guide Price we believe this to be a solid investment opportunity.

Tenure

Freehold

Council Tax Band

Current Rating A (Flats 1 & 2, 9 King Street)

Business Rates

7 King Street - according to the Valuation office website the premises has a rateable value of £2,800 with effect from 1 April 2023. 11 King Street - according to the Valuation office website the premises has a rateable value of £6,900 with effect from 1 April 2023.

Viewing

By appointment with our Ipswich office. 01473 558888.

Energy Efficiency Rating (EPC)

Current Rating Flats = A, Shops = D

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Ipswich Borough Council

Solicitors

Marshall Hatchick (Woodbridge), Marshall Hatchick, Ref: Philip McLauchlan Philip McLauchlan, Tel: 01394 388411

Additional Fees

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

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 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.