2 bed Flat For Sale £104,950
THE PROPERTY: An excellent opportunity to either acquire an individual flat for residential occupation or for an investor to acquire the freehold interest in this substantial building located in the middle of Saxmundham's High Street. The property consists of two retail shops with long leases (both in excess of 100 years) in accordance with the schedule below. Above are three flats and the current owner is willing to consider selling them individually with the freehold interest in the entire property reverting to the three flat owners once the last flat has been sold with a property management company will be set up. The three flats are all currently tenanted on Assured Shorthold Tenancies and it will be for the new owner/s to decide whether they wish to continue letting the properties or take back possession. A private door from the High Street gives access to a communal entrance lobby and stairs from the lobby lead up to the landing with individual front doors give access to each flat. All flats have gas fired central heating and gas safety certificates etc are all up to date.
Agents note: The current tenants have handed in notice for Flat 3 which will be vacant from 14th April 2023
LOCATION: Saxmundham offers an excellent range of local amenities including a Waitrose and Tesco supermarket, a Primary School and recently opened Free School. There is a vibrant High Street and a Wednesday market together with art galleries, pubs and restaurants. The attractions of the Suffolk Heritage Coast lie within convenient reach by car and include the world famous Snape Maltings Concert Hall which is home to the internationally renowned Aldeburgh Festival. The seaside towns of Aldeburgh and Southwold lie within convenient reach by car and other attractions include nature reserves at Minsmere, Havergate Island and Shingle Street, ancient castles at Framlingham and Orford and golf courses at Aldeburgh, Thorpeness, Halesworth and Hinton. The railway station at Saxmundham provides a regular service to London (Liverpool Street) via Ipswich..
SCHEDULE
17 High Street Ground Floor Retail premises (St Elizabeth Hospice) N/A 999 years from 8th December 1999. Permitted use A1 - any variation requires landlord's consent Peppercorn ground rent
19A High Street Ground Floor Retail premises (Ollies Barbershop) N/A 125 years from 1st July 2008 Ground rent £100 (increased every 25 years by £100)
Flat 1
19 High Street First floor
1 bed flat EER: D Lease 125 years from 1st July 2008 Currently let on assured shorthold tenancy £4,200 pa
£4,740 pa From 13/3/2023
Flat 2
19 High Street First floor
2 bed flat EER: D Lease 125 years from 1st July. 2008 Currently let on Assured shorthold tenancy £5,580 pa
£6,180 pa From 13/3/2023
Flat 3
17/19 High Street
Second floor 2 bed flat. EER: D Lease 125 years from 1st July.2008 Currently let on Assured shorthold tenancy £5,580 pa
£6,180 pa From 13/3/2023 The current tenants have handed in notice and the flat will be vacant from 14th April 2023
CURRENT TOTAL INCOME: £15,460 (From April £17,100)
Agents note: The current tenants have handed in notice for Flat 3 which will be vacant from 14th April 2023
LOCATION: Saxmundham offers an excellent range of local amenities including a Waitrose and Tesco supermarket, a Primary School and recently opened Free School. There is a vibrant High Street and a Wednesday market together with art galleries, pubs and restaurants. The attractions of the Suffolk Heritage Coast lie within convenient reach by car and include the world famous Snape Maltings Concert Hall which is home to the internationally renowned Aldeburgh Festival. The seaside towns of Aldeburgh and Southwold lie within convenient reach by car and other attractions include nature reserves at Minsmere, Havergate Island and Shingle Street, ancient castles at Framlingham and Orford and golf courses at Aldeburgh, Thorpeness, Halesworth and Hinton. The railway station at Saxmundham provides a regular service to London (Liverpool Street) via Ipswich..
SCHEDULE
17 High Street Ground Floor Retail premises (St Elizabeth Hospice) N/A 999 years from 8th December 1999. Permitted use A1 - any variation requires landlord's consent Peppercorn ground rent
19A High Street Ground Floor Retail premises (Ollies Barbershop) N/A 125 years from 1st July 2008 Ground rent £100 (increased every 25 years by £100)
Flat 1
19 High Street First floor
1 bed flat EER: D Lease 125 years from 1st July 2008 Currently let on assured shorthold tenancy £4,200 pa
£4,740 pa From 13/3/2023
Flat 2
19 High Street First floor
2 bed flat EER: D Lease 125 years from 1st July. 2008 Currently let on Assured shorthold tenancy £5,580 pa
£6,180 pa From 13/3/2023
Flat 3
17/19 High Street
Second floor 2 bed flat. EER: D Lease 125 years from 1st July.2008 Currently let on Assured shorthold tenancy £5,580 pa
£6,180 pa From 13/3/2023 The current tenants have handed in notice and the flat will be vacant from 14th April 2023
CURRENT TOTAL INCOME: £15,460 (From April £17,100)
