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%.
Reversionary Freehold Commercial For Sale in Town Centre - 22-42 Lloyds Avenue