Ivy Pit, Ivy Lane, Carlton Colville, Lowestoft, Suffolk NR33 8HY

SOLD PRIOR

3.69 acres stms of land part let producing £11,000 pa

A rectangular block of land located down a private track adjoining a railway line. There is a certificate of lawful use for storage and dismantling of scrap metal dated 23rd August 1993.

The site is arranged as six storage yards, two of which are let with yard 4 producing £500 pcm (£6,000 pa) on a seven year lease from 2022. Yard 5 is let at £416.66 pcm (£5,000 pa), however will be vacant on completion. There is a break clause in the lease for yard 4 in October 2025 with a six month notice period.

We are informed by the seller that there is an electric kiosk and water on site.

Additional Information This brownfield site with an uncommon established use dating back to 1947, contains two permanent storage buildings made from timber and clad in metal. The first building is shaped in a L fashion , measures roughly 65 square meters and is located in yard 3. This is approx 20 years old. The second building is approx 105 square meters and is split in two halves this building is also approx 20 years old as well. This building is located in yard 4.
The sale also includes two 1 year old dark green 20ft storage containers that are in excellent condition situated within yards 5 and 6.
Business Rates According to the valuation office website the site is classed as land used for storage and premises and yards 1-3 & 6 have an area of 4,403.3 sq/m and a rateable value of £6,500 with effect from 13th February 2024. Yard 4 has an area of 1,050 sq/m and a ratable value of £3,250 with effect from 1st April 2023. Yard 5 has an area of 285 sq/m and a ratable value of £600 with effect from 1st April 2023.
Note Please would all interested parties register their interest with the Auctioneers in order that they may be kept up to date with any developments.

Tenure: Freehold

Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Buyer's Premium Fee: £900 inc VAT payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.