Commercial property
High Yielding Single Let Office Investment, St Clare House, Princes Street, Ipswich

Property > Commercial > Property Sold
  • Ipswich is the administrative centre for Suffolk and an expanding commercial centre some 66 miles (106 km) north east of London
  • Prominent site located on the town’s inner ring road in close proximity to the  town centre and prime retailing area
  • Office building comprising 7,155.1 sq m (77,012 sq ft) with 32 car parking spaces
  • Freehold
  • Let to the Secretary of State for the Environment (HMRC) expiring 23rd July 2023, with a tenant's break clause dated 2nd April
  • Current net rent of £695,000 per annum exclusive equating to a low rent of £9.02 per sq ft (£97.13 per sq m)
  • We are instructed to seek offers of £5,400,000 (five million, four hundred thousand pounds only) subject to contract and exclusive of VAT for our client's freehold interest. This reflects a net initial yield of 12.07% assuming purchaser's costs of 6.61% and a capital value of only £70.12 per sq ft 
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