Retail Property (high street) for sale

2-4 Upper Brook Street, Ipswich, IP4 1EE

POA
1,828 sq. ft.

Property Description

Commercial information

  • 1,828 sq ft (169 sq m)

Key features

  • Investment Opportunity
  • Good trading position just off main shopping core
  • Let to TUI Group (formerly TUI Travel plc)

Full description

Tenure: Freehold

Description
The property comprises a town centre retail unit arranged at ground and first floor with a prominent glazed frontage to Upper Brook Street.

Location
Located on Upper Brook Street close to the main shopping centre of Ipswich and bus routes.

Terms
We understand that the entire property is let to TUI Travel PLC (now TUI Group) for a term of 25 years from the 14th August 1998 with provision for upward only rent reviews at 5 yearly intervals and a current rent of £40,000 p.a. exclusive. Next rent review 2018. We calculate the current rent to reflect £38.00 per square foot, Zone A with the prospect of an uplift at the next review.

The property is offered for sale freehold with the benefit of the lease to TUI Group. TUI Travel PLC statutory results for the year ending 30 September 2014 showed revenue of £14,619m, an operating profit of £499m and a profit before Tax of £362m. The newly formed TUI Group is expected to post results for 2015 of earnings around €1billion (£740million) for the year ending September 2015.

Price
£800,000 Freehold. Which we calculate would show a purchaser a net initial yield of 4.7% after allowing for acquisition costs of 5.8%.


More information from this agent

Nearest stations

  • Ipswich (0.7 mi)
  • Derby Road (1.2 mi)
  • Westerfield (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Savills , Ipswich Industrial

23 Museum Street, Ipswich, IP1 1HE

01473 870108 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Ipswich (0.7 mi)
  • Derby Road (1.2 mi)
  • Westerfield (1.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Savills , Ipswich Industrial

23 Museum Street, Ipswich, IP1 1HE

01473 870108 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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