Lot 90 Leasehold Commercial InvestmentAuction Date:
16th June 2022
20 Pownall Road, Ipswich, Suffolk, IP3 0DS
Currently let at £10,000 per annum
Situated in a prominent corner position on Duke Street (B1458) at its junction with Pownall Road approximately quarter of a mile from the Neptune Marina complex and the University of Suffolk. Furthermore, Derby Road railway station is situated approximately one mile to the east.
The property is currently fitted out as a restaurant/takeaway and has a designated parking space.
Ground Floor
Entrance door into open-plan sales/service area with food preparation area, storeroom and cloakroom/W.C.
Outside
There is an allocated parking space to the rear of the block.
Tenancy
Let under the terms of a 10-year lease from 19th April 2022 at a current rent payable of £10,000 per annum and a rent review on the fifth anniversary.
Tenure
Remainder of a 999-year lease, from 5th December 2007, at a current ground rental of a peppercorn, per annum.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
