A unique INVESTMENT opportunity for investors to acquire a mix of residential property with further development potential close to Ipswich town centre. A former Victorian BUPA Nursing Home the property has been converted to a high standard to provide 4 completely refurbished 3 bedroomed TOWN HOUSES, a single Detached 3 bedroomed COTTAGE and the main building is in the process of being converted into 4 large flats with an Attic storage area offering further scope for increased accommodation.
The property is situated just to the South West of Ipswich town centre, off Burlington Road within easy walking distance of the main shopping thoroughfares, Wolsey Theatre, Ipswich Waterfront, all the leisure and social facilities associated with a thriving county town and Ipswich mainline railway station with its regular inter-city service to London's Liverpool Street Station (approx. 70 minutes). There is also easy access to the main A12/A14.
Planning permission was granted in August 2013 (IP/13/00625/ FUL) and all the supporting documents can be viewed on the Ipswich Borough Council web-site.
The accommodation comprises:
NO.38 DALTON ROAD A Detached period COTTAGE of traditional solid brick construction with rendered, painted elevations under a slate roof with gas fired central heating provided by a relatively new boiler and a modern fitted kitchen. The property has the benefit of its own Residential Parking Permit.
The accommodation comprises: On the Ground Floor: Entrance Hall, Cloaks/Shower Room, Sitting Room 17'4" x 14'4", Study/Dining Room 12'8" x 6'8" extending to 10'2", Kitchen/Diner 14'10" x 10'8". On the First Floor: Landing, Bedroom 1 14'10" x 11'1", Bedroom 2 12'3" x 11', Bedroom 3 11'2" x 10', Spacious Bathroom 7'9" x 6'9". Outside: Small gardens to front and rear. (Total Floor Area approximately 121m2) Currently let on an assured shorthold tenancy.
40 DALTON ROAD The original main Detached Victorian Property with planning consent to create 4 large self-contained FLATS - 2 on the Ground Floor and 2 on the First floor. The property is of solid Suffolk white brick construction under a slate roof. One of the with Ground Floor Flats has been completed and is currently let. The other Ground Floor Flat and 2 First Floor Flats are in various stages of conversion.
UNIT 1 (GF) Entrance Hall, open plan Living Room/Kitchen, 2 Bedrooms (one with En-suite Shower Room) and separate Bathroom. (approx. floor area 100 m2) Currently LET on an assured shorthold tenancy.
UNIT 2 (GF) Entrance Hall, Living Room, Kitchen, 2 good Bedrooms and Bathroom. (approx. floor area 101 m2) - requires completion and currently VACANT
UNIT 3 (FF) Entrance Hall, Living Room, Kitchen, 2 good Bedrooms (one with En-suite Bathroom) and separate Bathroom. (approx. floor area 102 m2) - requires completion and currently VACANT
UNIT 4 (FF) Entrance Hall, Living Room, Kitchen, 2 Bedrooms and Bathroom (approx. floor area 98 m2) - requires completion and currently VACANT
ATTIC comprising 7 store rooms (87 m2) - currently VACANT
42-48 DALTON ROAD 4 totally refurbished TOWN HOUSES of traditional brick construction with coloured washed rendered elevations under a slate roof with small front and rear gardens, overlooking communal landscaped gardens to the front.
Each of the properties comprises: On The Ground Floor: Entrance Hall, Cloakroom, Sitting Room, Kitchen/Diner (No.48 also has a Utility Room) On the First Floor: Landing, 3 Bedrooms and Bathroom (No.44 also has an En-Suite Shower Room). Approx. floor areas range form 104-132 m2. Each house has its own shed/cycle store.
In addition, there is a dustbin storage area and 16 brick paved off road parking spaces.
All 4 houses are currently let on assured shorthold tenancies.
SCHEDULE OF TENANCIES No 38 Dalton Road - currently let on an assured shorthold tenancy (rent available on application)
No.40 Dalton Road
Unit 1 - currently let on an assured shorthold tenancy (rent available on application)
Unit 2 - vacant pending completion of refurbishment works
Unit 3 - vacant pending completion of refurbishment works
Unit 4 - vacant pending completion of refurbishment works
No.42 Dalton Road - let on an assured shorthold tenancy (rent available on application)
No.44 Dalton Road - let on an assured shorthold tenancy (rent available on application)
No.46 Dalton Road - let on an assured shorthold tenancy (rent available on application)
No.48 Dalton Road - let on an assured shorthold tenancy (rent available on application)
TOTAL ANNUAL CURRENT INCOME - £4,650 per month (£55,800 per annum)
with potential when fully refurbished and let to achieve in excess of £85,000 per annum to show a yield of approx. 5.66%
SERVICES All mains services are available.