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    Key features

    • Investment let at £259,379 p.a. (12.06% GIY on guide)
    • Comprising of 49 en-suite Rooms (41 Bronze Rooms and 8 Silver Rooms)
    • Fully let for academic
    • 35 of 49 Rooms are Let for Academic Year 2023/24
    • An approx. 0.1 miles from the The University of Suffolk Campus North
    • Modern Purpose built block

    Description

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    A four storey detached purpose built block comprising of 3 stories and roof extension.

    Comprising of 49 en-suite Rooms, each room benefits from a double bed, fitted desk, bedside table and en-suite shower room. There is a shared kitchen on the ground floor, two shared kitchens on both the first and second floors and a further kitchen on the third floor.

    The building has two main stairwells and an 8 man passenger lift which serves all floors.

    Additional information

    Tenure

    Freehold

    Accommodation

    3 floors and roof extension

    49 en-suite rooms


    Tenancy

    The rooms are let out on individual AST's on a mixture of 43 and 51 week contracts (Please refer to the legal pack)

    Rent

    £259,379 p.a.

    Notes

    Please note, the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills, prospective purchasers must rely upon their own enquiries in this regard. Please also note, that at the time of print/auction the income and tenancies are reported to be correct.

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      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is situated on the east side of Grimwade Street, to the south of its junction with New Street. A number of shops, bars and restaurants are available nearby along Wherry Quay.

      Derby Road and Ipswich station is located 1 mile to the south east and 0.9 miles to the south west

      Transport

      Ipswich train station

      various bus stops

      Legal documents

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      EPC rating

      The EPC rating for this property is B

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums