For Sale. Freehold Retail/Residential Investment St Nicholas Street, Ipswich, Suffolk, IP1 1TW

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1 fennwright.co.uk/commercial St Nicholas Street, Ipswich, Suffolk, IP1 1TW For Sale Freehold Retail/Residential Investment Price reduced to 470,000, reflecting 8% yield net of costs (ignoring water rates) Listed building in niche trading position in Ipswich town centre Fully let and producing 39,740 per annum Two commercial units recently let on new 10 year leases without break clauses Four one bedroom self contained flats above (Flat 2 recently redecorated) jjf@fennwright.co.uk ipswich@fennwright.co.uk 1 Buttermarket, Ipswich, IP1 1BA Offices at Chelmsford, Witham, Stanway, Colchester and Ipswich 1 Buttermarket, Ipswich, IP1 1BA Offices at Chelmsford Witham Stanway Colchester Ipswich

2 Location Ipswich is the county town of Suffolk with a resident population of approximately 130,000 and a retail catchment of about 320,000. Ipswich is situated approximately 79 miles north east of central London, 43 miles south of Norwich, and 18 miles north east of Colchester. The A12 and A14 provide excellent road access to the surrounding area and the national motorway network. The property occupies a prominent position on the east side of St Nicholas Street, which is one of the principal routes from Ipswich town centre to the recently developed Waterfront. St Nicholas Street comprises a mix of niche retailers as well as bars and restaurants, including Zizzi s and K Bar & Grill. Description The premises comprise a Grade II listed mid terrace three storey building with associated basement. A single storey extension under a pitched roof is attached to the rear on the ground floor. The ground floor comprises two separate retail units trading as a clothes shop and beauty salon. Each unit has a fully glazed shop front and main sales area together with ancillary areas to the rear and basements. The upper floors comprise four residential flats accessed via a shared self contained entrance between the retail units at ground level. Each flat includes a living room with integral kitchen, bedroom and shower room/wc. An enclosed courtyard is provided to the rear of the property. Accommodation The property provides the following approximate floor areas and dimensions: No. 41 Main Sales sq.m. (276 sq.ft.) Rear Store 7.81 sq.m. ( 84 sq.ft.) Dressing Room 1.04 sq.m. ( 11 sq.ft.) Rear Store sq.m. ( 31 sq.ft.) Cellar sq.m. (179 sq.ft.) Total net internal area sq.m. (581 sq.ft.) No. 43 Main Sales sq.m. (178 sq.ft.) Stepped Area to Rear sq.m. (151 sq.ft.) Treatment Room 6.86 sq.m. ( 74 sq.ft.) Cupboard 0.52 sq.m. ( 6 sq.ft.) Rear Store 2.21 sq.m. ( 24 sq.ft.) Cellar sq.m. (174 sq.ft.) Total net internal area sq.m. (607 sq.ft.) Flat 1 Living Room & Kitchen 4.08 by 4.37 m. Bedroom 2.30 by 2.75 m. Shower Room/WC 1.10 by 1.50 m. (max.) Gross internal area sq.m. (282 sq.ft.) Flat 2 Living Room & Kitchen 4.02 by 6.08 m. Bedroom 2.90 by 3.85 m. Shower Room/WC 2.40 by 1.60 m. Gross internal area sq.m. (409 sq.ft.) Flat 3 Living Room & Kitchen 4.07 by 4.72 m. Bedroom 2.20 by 2.80 m. Shower Room/WC 1.60 by 1.55 m. Gross internal area sq.m. (282 sq.ft.)

3 Flat 4 Living Room & Kitchen 5.80 by 4.04 m. Bedroom 3.02 by 3.85 m. Shower Room/WC 1.58 by 2.20 m. Gross internal area sq.m. ( 409 sq.ft.) Building: Retail Units: Total NIA sq.m. (1,188 sq.ft.) Residential: Total GIA sq.m. (1,382 sq.ft.) Ground floor gross frontage 11.3 m. Services We understand that mains electricity, water and drainage are connected. The commercial units and residential flats have separate electricity meters, however water is provided via a single supply. None of the services have been tested. Rates & Council Tax We understand the premises are assessed as follows:- No. 41 Rateable Value 6,000 No. 43 Rateable Value 6,100 Flats 1-4 are each assessed under Council Tax Band A. Local Authority Ipswich Borough Council, Grafton House, 15/17 Russell Road, Ipswich, Suffolk, IP1 2DE. Telephone Information The property is let as follows: Address Use Tenant Rent Lease Term Comments No.41 Retail Law Society Lease No.43 Retail Law Society Lease Flat 1 Residential Assured Shorthold Mr Michael Pugh 9,600 p.a.x 10 years from 1 October 2010 Aspect Health & Beauty Clinic Ltd 9,600 p.a.x 10 years from 1 October 2010 Helena Neves 4,940 p.a. 6 months from 6 August 2012 Rent review at the end of year 5 in accordance with RPI Rent review at the end of year 5 in accordance with RPI Flat 2 Residential Assured Shorthold Fernanda Guerreiro 5,460 p.a. 6 months from 29 January 2013 Flat 3 Residential Assured Shorthold Flat 4 Residential Assured Shorthold Total Rental Income Maria Rodrigues 4,680 p.a. 6 months from 27 February 2012 Maria Fonseca 5,460 p.a. 6 months from 4 January ,740 p.a. * *We understand that all the rents include water rates. The cost of water rates for the previous year were approximately 1,520.

4 fennwright.co.uk/commercial Terms Offers are invited in the region of 470,000 for the freehold interest, subject to the existing tenancies as outlined. The above guide price reflects a net initial yield of 8.07% after allowing for purchaser s costs of 4.8% but ignoring water rates. Viewing Strictly by prior appointment with the Sole Agents: Fenn Wright, 1 Buttermarket, Ipswich, IP1 1BA T: F: E: rlgb@fennwright.co.uk Contact: Richard Bertram E: mhd@fennwright.co.uk Contact: Mark Drummond Fenn Wright for themselves and for the vendors or lessors of this property whose agents they are give notice that: i. The particulars are set out as a general outline for the guidance of intending purchasers or lessees; and do not constitute, nor constitute part of, an offer or contract. ii. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. iii. The vendor or lessor does not make or give, and neither Fenn Wright nor any person in their employment has the authority to make or give, any representation or warranty whatsoever in relation to this property. iv. All statements contained in these particulars as to this property are made without responsibility on the part of Fenn Wright or the vendor/lessor. v. All quoting terms may be subject to VAT at the prevailing rate from time to time. vi. Fenn Wright have not tested any electrical items, appliances, any plumbing or heating systems and therefore, cannot give any warranty or undertaking as regards their operation or efficiency. jjf@fennwright.co.uk 1 Buttermarket, ipswich@fennwright.co.uk Ipswich, IP1 1BA Offices at Chelmsford, Witham, Stanway, Colchester and Ipswich 1 Buttermarket, Ipswich, IP1 1BA Offices at Chelmsford Witham Stanway Colchester Ipswich

5 Energy Performance Certificates St Nicholas Street, Ipswich, IP1 1TW