Land known as The Pines, Common Farm, The Common, Leiston, Suffolk IP16 4UN
- PROPERTY TYPE
Land
- SIZE
Ask agent
Key features
- Corner parcel of land
- App 88ft max x 66ft road frontage
- Let on a 3 year AST from 2023
- Rental income of £7,200 per annum
- Medium/long term development potential (STPP)
- Fantastic investment opportunity
- Guide price : £30,000 - £40,000
- For sale by livestream auction
- Unless previously sold or withdrawn prior
- 11:00 am, Wednesday 12th February 2025
Description
SOLD AT AUCTION FOR £41,000
A parcel of land providing a high rental income
This interesting Freehold investment/speculative Lot comprises a corner parcel of land measuring approximately 88ft at its deepest point by 66ft of road frontage with gated access.
The land has mains water which is charged at £20 per month, electricity which is independently metered, a private drainage system and has been rented out on a 3 year tenancy agreement from 4th September 2023 at a rent of £600 per calendar month (£7,200 per annum) and is utilised to house a caravan which is permanently occupied.
We consider there to be development potential in the medium/long term (STPP) but with an annual return of 24% based on the low end of the Guide there's no doubt this is a fantastic investment opportunity.
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.
Land known as The Pines, Common Farm, The Common, Leiston, Suffolk IP16 4UN
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Saxmundham Station4.4 miles
- Darsham Station5.2 miles
About Auction House, East Anglia
The Barn Newmarket Road Cringleford Norwich NR4 6UE
Notes
Disclaimer - Property reference 202501021117sq_t9ik. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House, East Anglia. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, East Anglia on 01603 361653.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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