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  • Multi let with Coral Racing, Pizza Express, Kerseys Solicitors
  • Currently producing rental income of £170,100 p.A.X.
  • Potential for rental growth
  • Offers in the region of £2.3 million

Full Description

Reversionary freehold commercial investment for sale in town centre

Situation
The property is located in central Ipswich Lloyds Avenue which connects directly to the Cornhill and the main shopping thoroughfares of Tavern Street and Westgate Street, where there are a number of national retailers represented such as Debenhams, Marks and Spencers, WHSmith, Burtons and the two shopping centres, Sailmakers and The Buttermarket.

Description
The property comprises 8 ground floor retail/restaurant premises, first floor self-contained offices and 4 ground rents from flats.

Tenancies
The schedule of tenancies is attached. The properties currently produce a rental income of £170,100 per annum exclusive. There is one vacant unit (40 Lloyds Avenue). In December 2018 the rental income will increase to £172,100 and in February 2020 will increase to £197,100.

Price
Offers in the region of £2,300,000 are requested for the freehold interest, subject to the existing tenancies, which represents a net initial yield of 6.6%.

Viewing
Please contact us on 01473 211933 if you wish to arrange a viewing appointment for this property, or require further information.

Disclaimer
Penn Commercial endeavour to maintain accurate depictions of properties in Virtual Tours, Floor Plans and descriptions, however, these are intended only as a guide and purchasers must satisfy themselves by personal inspection.

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