A mixed use town centre premises yielding £12,000 pa and with planning to convert upper levels into 2 flats

This Grade II Listed 4 storey property is situated in the heart of the town centre and offers an exciting investment/refurbishment opportunity. The ground floor has been let to an employment agency on a 10 year full repairing and insuring lease at an initial rent of £12,000 per annum rising annually to £14,500 in years 4 & 5. Planning Permission (ref: 15/00258) and Listed Building Consent was granted in January 2015 for the upper levels to be converted into 2 flats (1 x 1 bedroom & 1 x 2 bedroom) for which an Empty Homes Grant of £10,000 per unit has been awarded, subject to conditions. The initial potential yield from the whole building would be in the region of £24,000 per annum making this a first class, multi income stream freehold investment.

Tenure

Freehold

Viewing

Open days

Energy Efficiency Rating (EPC)

Current Rating E

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. Tel: 01473 432000

Solicitors

Birketts LLP, 24-26 Museum Street, Ipswich, Suffolk IP1 1HZ, Ref: Mr O Crichton, Tel: 01473 299115

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ 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.