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Floorplan
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    Key features

    • To be offered in a later auction
    • A prominent mid terrace building located in the centre of Ipswich
    • Let to Superdrug Stores Plc on a 10 year lease from 2018 (Reversion 2028)
    • Future development potential to convert the upper floor into dwellings (subject to existing lease & the requisite consents)
    • April 2025 tenant only break notice has not been served
    • 6 week completion available
    • Investment let at £190,000 p.a. (12.66% GIY on guide)

    Description

    An attractive mid terrace property forming part of a busy and established shopping parade on a part pedestrianised street comprising of a commercial unit at ground floor and ancillary space at 1st and 2nd floor let to Superdrug

    The property offers future development potential to convert the upper floors into residential dwellings (subject to the requisite consents and existing lease)

    Nearby occupiers include Vison Express, River Island, H&M as well as wide range of national and local independent retailers.

    Additional information

    Tenure

    Leasehold - Peppercorn ground rent (Please refer to the legal pack)

    Accommodation

    Please note that Savills has not inspected the property and the following measurements have been been taken from the VOA.

    Ground floor

    • Retail space
    • An approx. 3,670 sq ft

    First floor

    • Ancillary space
    • An approx. 3,472 sq ft

    Second floor

    • Ancillary space
    • An approx. 5,487 sq ft


    Total space an approx. 12,629 sq ft

    Tenancy

    20 Tavern Street

    • Let to Superdrug Stores Plc (TA as Superdrug)
    • Let on a 10 year IR&I lease from April 2018 (Reversion April 2028)
    • Service charge and Insurance contributions paid by the tenant to the Landlord
    • April 2025 tenant break notice has not been served by the tenant
    • Investment let at £190,000 p.a.

    Rent

    £190,000 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must reply upon their own enquiries prior to bidding. Please refer to the legal pack.

    The property is elected for VAT however we believe that the sale can be treated as TOGC (Please refer to the legal pack)

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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 located on the south side of Tavern Street which is a part pedestrianised street.

      Ipswich Station is located an approx. 0.8 miles from the property

      Transport

      Ipswich Station - National Rail services

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      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