A freehold residential investment close to Ipswich centre and Buttermarket with a current rent of £42,846 PAX , representing an initial gross yield of 17.1% PAX. Comprising a significant, extended period end terrace house configured as 7 rooms, with additional annexe, currently let. Requiring modernisation and providing the opportunity to sub-divide or re-develop (STPP). For sale as a single freehold lot, suitable for cash buyers.
Auction date
To be sold by online auction on Friday 24th November 2023 with a 6 WEEK COMPLETION, bidding will open at 10.00.
Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.
Location
* Close to local schools and amenities * Good access to town centre, Buttermarket and waterfront * Mainline rail service to London Liverpool Street & Cambridge * A14 access at junctions 55 and 56
Description
* Extended end terraced house * Configured currently as 7 lettable rooms * Requires refurbishment * Additional let annexe * Sold subject to tenancies * Potential for further conversion or re-modelling (STPP)
Accommodation
Comprises:
Ground floor
Entrance hall, living room/diner kitchen, 2 bedrooms 1 with en-suite
First floor
5 bedrooms, bathroom, shower room.
Outside
Garden, patio area, off road parking, two garages, laundry area. Access to 2A Christchurch Street (believed to comprise open plan living room/kitchen, 2 bedrooms, shower room).
EPC rating
D
Tenure
Freehold, sold subject to existing tenancies.
Tenancies
Front room, AST from 1/4/22 £395 pcm, now periodic.
Back room, AST from 27/4/19 £290 pcm, now periodic.
Old study room, AST 1/1/19 £415 pcm, now periodic
Garden room, AST 1/8/20 £560 pcm, now periodic
Room, AST 4/6/16 £325, now periodic
Upper garden room, AST 11/3/22 £475, now periodic
Master bedroom, AST 7/4/22 £595 now periodic
Annexe (2a Christchurch Road), AST 20/12/19 £515.52 now periodic.
Please see legal pack for further details
Council tax band
D - Ipswich
Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor’s solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor.
Additional fees
A buyers charge of £1,200 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.
Please note
All plans are strictly for identification purposes only and should not be relied upon. Please refer to the legal pack for the Land Registry plan of each lot. Any plans are reproduced from Ordnance Survey maps with kind permission of the Controller of Her Majesty’s Stationery Office @ Crown copyright. All rights reserved, Licence no: 100020449.
Pre-auction offers
These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the “Terms & Conditions - Unconditional Auction”.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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