£1,250,000
Est. Mortgage £6,254 per month*
Studio flat for sale
Suffolk, IP33
studio Flat Property description
Attractive town centre mixed residential and commercial investment property. Currently producing a total rental income of £101,000 per annum. Gross Investment Yield 8.08%.
LOCATION
The property is situated just to the north of the main shopping centre of Bury St Edmunds and in a popular street of mixed residential and shopping use. The main town centre is within a few minutes’ walk. Bury St Edmunds has a current population of approximately 45,000 and a catchment area of approximately 150,000. There is good access to the A14, A11 (M11) and the railway station at Bury St Edmunds offers a link to mainline services to London Liverpool Street and Kings Cross.
DESCRIPTION
1920’s built 3 storey building converted into 8 flats and one business unit. The front of the property is 1920’s and is in the conservation area, however, the rest of the property was built in the 1970’s.
ACCOMODATION
The flats and their floor areas are shown on the attached floor plans.
RESIDENTIAL TENANCIES
The flats are let on Assured Shorthold Tenancies. All the necessary notices under Section 21 have been served. Tenants are a mix of employed and USAF personnel. There are currently no voids. Assured Shorthold Tenancies are available on request from the agent. INTERNAL VIEWING OF FLATS IS NOT POSSIBLE.
BUSINESS LEASE
30 St Johns Street ground and part of first floor is subject to a business lease to Inspire Social care services (Newmarket) Limited on the main headline terms:
• Internal Repairing and Insuring Lease
• 5 year lease commencing on 23rd January 2025
• Rent £12,000 per annum
• No Rent Review
• Outside Landlord & Tenant Act 1954
Full lease details are available from the Agent.
ENERGY PERFORMANCE CERTIFICATE (EPC)
EPC’s available upon request from the agent.
COUNCIL TAX BANDS
31, 32B-F Council Tax Band A
32A Council Tax Band B
BUSINESS RATES
The Rateable Value of 30 St Johns Street is currently being assessed by the Valuation Office. The current tenant is responsible for paying the business rates.
LOCAL AUTHORITY
West Suffolk Council.
West Suffolk House, Western Way, Bury St Edmunds, Suffolk IP33 3YU.
SERVICES
Mains electricity, water and drainage are connected. Gas is connected to 32 St Johns Street only.
TENURE
Freehold.
RIGHTS OF WAY
There is a fire exit at the rear of the building over the adjacent Bushel pub car park.
VAT
The sale is not subject to VAT.
METHOD OF SALE
The property is available by Private Treaty. The Vendors reserve the right to invite best offers.
AGENT’S NOTE
• Please note the ground floor and part of the first floor of 30 St Johns Street is let on a commercial lease and is not a residential flat as the floor plans indicates.
• Inspire Social care services (Newmarket) Limited business is unaffected.
• Property particulars prepared March 2025
• THIS IS AN INVESTMENT SALE, AND THERFORE IT IS NOT POSSIBLE FOR AN INTRENAL VIEWING OF THE FLATS, AS THEY ARE ALL OCCUPIED.
VIEWING AND FURTHER INFORMATION
Strictly by appointment only. To arrange a viewing or for further information please see attached property particulars.
LOCATION
The property is situated just to the north of the main shopping centre of Bury St Edmunds and in a popular street of mixed residential and shopping use. The main town centre is within a few minutes’ walk. Bury St Edmunds has a current population of approximately 45,000 and a catchment area of approximately 150,000. There is good access to the A14, A11 (M11) and the railway station at Bury St Edmunds offers a link to mainline services to London Liverpool Street and Kings Cross.
DESCRIPTION
1920’s built 3 storey building converted into 8 flats and one business unit. The front of the property is 1920’s and is in the conservation area, however, the rest of the property was built in the 1970’s.
ACCOMODATION
The flats and their floor areas are shown on the attached floor plans.
RESIDENTIAL TENANCIES
The flats are let on Assured Shorthold Tenancies. All the necessary notices under Section 21 have been served. Tenants are a mix of employed and USAF personnel. There are currently no voids. Assured Shorthold Tenancies are available on request from the agent. INTERNAL VIEWING OF FLATS IS NOT POSSIBLE.
BUSINESS LEASE
30 St Johns Street ground and part of first floor is subject to a business lease to Inspire Social care services (Newmarket) Limited on the main headline terms:
• Internal Repairing and Insuring Lease
• 5 year lease commencing on 23rd January 2025
• Rent £12,000 per annum
• No Rent Review
• Outside Landlord & Tenant Act 1954
Full lease details are available from the Agent.
ENERGY PERFORMANCE CERTIFICATE (EPC)
EPC’s available upon request from the agent.
COUNCIL TAX BANDS
31, 32B-F Council Tax Band A
32A Council Tax Band B
BUSINESS RATES
The Rateable Value of 30 St Johns Street is currently being assessed by the Valuation Office. The current tenant is responsible for paying the business rates.
LOCAL AUTHORITY
West Suffolk Council.
West Suffolk House, Western Way, Bury St Edmunds, Suffolk IP33 3YU.
SERVICES
Mains electricity, water and drainage are connected. Gas is connected to 32 St Johns Street only.
TENURE
Freehold.
RIGHTS OF WAY
There is a fire exit at the rear of the building over the adjacent Bushel pub car park.
VAT
The sale is not subject to VAT.
METHOD OF SALE
The property is available by Private Treaty. The Vendors reserve the right to invite best offers.
AGENT’S NOTE
• Please note the ground floor and part of the first floor of 30 St Johns Street is let on a commercial lease and is not a residential flat as the floor plans indicates.
• Inspire Social care services (Newmarket) Limited business is unaffected.
• Property particulars prepared March 2025
• THIS IS AN INVESTMENT SALE, AND THERFORE IT IS NOT POSSIBLE FOR AN INTRENAL VIEWING OF THE FLATS, AS THEY ARE ALL OCCUPIED.
VIEWING AND FURTHER INFORMATION
Strictly by appointment only. To arrange a viewing or for further information please see attached property particulars.
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First listed
Last weekSuffolk, IP33
Marketed by
Lacy Scott & Knight - Bury St. Edmunds 10 Risbygate Street Bury St. Edmunds IP33 3AACall agent on 01284 644927
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Monthly repayment
Based on a 25 year mortgage, with a 10% deposit and a 4.50% interest rate.
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DISCLAIMER: Property descriptions and related information displayed on this page are marketing materials provided by Lacy Scott & Knight - Bury St. Edmunds. Placebuzz does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Lacy Scott & Knight - Bury St. Edmunds for full details and further information.