RESIDENTIAL

BRITANNIC HOUSE, 28 PRINCES STREET, IPSWICH, SUFFOLK IP11RJ

TELEPHONE: 01473 212656

EMAIL: enquiries@bw-b.co.uk www.bw-b.co.uk

72 Wallace Road, Ipswich IP1 5BZ

• Fully let and licenced HMO for 6 rooms

• Gross rental income £33,384 p.a • Potential for expansion to 9 rooms,

STP / HMO Licence • Potential to sell parts of substantial

rear garden

FOR SALE FREEHOLD As a going concern

Offers in excess of £260,000 (No Vat)

SUBJECT TO CONTRACT

FOR SALE

TERRACED 2 STOREY HOUSE IN MULTIPLE OCCUPATION

Summary of Accommodation

Licenced for 6 double bedrooms

Kitchen Conservatory

Ground Floor W.C 1st Floor Shower Room

Additional Shower Room / W.C Large Rear Garden

Front and Side Access 1 Off Street Parking Space

72 Wallace Road, Ipswich IP1 5BZ

RESIDENTIAL

Note: These particulars are intended only as a guide to prospective purchasers or lessees to enable them to decide whether to make further enquiries with a view to taking

up negotiations but they are otherwise not intended to be relied upon in any way or for any purpose whatever and accordingly neither their accuracy nor the continued

availability of the property is in any guaranteed and they are furnished on the express understanding that neither the agents nor the vendors or landlord are to be or become

under any liability or claim in respect of their content. Digital images have been used and some adjustments may have been made.

In the event of the agents or the vendor or landlord supplying any further information or expressing any opinion to a prospective purchaser or lessee, whether verbal or in

writing such information or expression of opinion must be treated as given on the same basis as these particulars.

LOCATION: The subject property is located just off Bramford Lane on the north western side of Ipswich town centre, close to the A14 in a densely populated and convenient part of the town. ACCOMMODATION: The property comprises a former end of terrace house which was converted some 3 / 4 years ago to create a House of Multiple Occupation (HMO) which is licenced for 6 double bedrooms. The property benefits from one off street car parking space to the front with separate side access under a covered walkway which leads to a substantial rear garden as well as a Secondary access to the house. The property provides the following accommodation: Kitchen 3.08 mts x 2.75 mts Fully fitted kitchen with hob, microwave oven Conservatory 3.3 mts x 3.78 mts Rear W.C Housing gas fired boiler Access to rear garden Rooms 1-7 Double bedrooms Lounge 3.25 mts x 3.3 mts Separate shower Shower / W.C Cleaning cupboard All rooms are let on a fully furnished basis and include bed, mattress, bedside table, chest of drawers and wardrobe. SERVICES: The property is served by all mains services; water, electricity and foul drainage and there is a modern gas fired boiler. The property also includes the ability to separately meter individual rooms. PLANNING: There are historic planning approvals for alterations and conversion in 1952 and 1954 - the latter being conversion of garage into living accommodation. The property has a current HMO licence registered with Ipswich Borough Council. (Cost £120 per unit) COUNCIL TAX: Band B EPC: D65

TENANCY: The entire property is let to YMCA Trinity Group on a 2 year internal repairing and insuring lease agreement from 1st April 2018, expiring 31st March 2020, producing a gross income of £33,384 p.a and a net income of circa £26,500 (after deducting utilities and Council Tax.) The tenant may be prepared to extend this agreement by negotiation. The rent payable is monthly in advance and the Landlord is responsible for the structure, boiler, water heaters, showers, Council Tax and utilities. A copy of the agreement is available upon request. LEGAL COSTS: Each party to be responsible for their own legal costs incurred in any transaction. TERMS: The property is available freehold as a going concern at £260,000. There are various opportunities to extend and refurbish the property to create a 9 room HMO subject to obtaining the necessary planning permission and HMO licence. Drawings are available upon request. In addition, it may be possible to negotiate part disposal of the substantial rear garden to adjoining owners as well as to possibly infill the ground floor covered access way, subject to planning permission. Nb There are established rights of way to 74 Wallace Road and beyond rear gardens. VIEWING: Strictly by prior appointment through Beane Wass & Box onTel: (01473) 212656 or E-Mail: enquiries@bw-b.co.uk Contact: Richard Bertram or Julian Haywood Smith SUBJECT TO CONTRACT Prepared November 2019