26 bedroom block of apartments for sale
Lacey Street, Ipswich, IP4
- PROPERTY TYPE
Block of Apartments
- BEDROOMS
26
- BATHROOMS
26
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Freehold purpose-built residential block comprising 26 self-contained apartments
- Open-market PRS investment let on Assured Shorthold Tenancies
- Current passing rent £297,420 per annum
- Strong gross yield of 9.29% at the asking price of £3.20 million
- Two apartments currently vacant, offering immediate reversionary potential
- Rents range from £775 pcm to £1,200 pcm, reflecting differing unit sizes
- Further income upside from units 10A & 10B, subject to utility connections
- Located in the IP4 postcode, a proven and consistently lettable Ipswich location
Description
Hanover Court, Lacey Street, Ipswich IP4 2PJ is a freehold, purpose-built residential block comprising 26 self-contained apartments held as a single investment asset. The property is operated as an open-market private rented sector investment, with all units let on Assured Shorthold Tenancies and no age, care, nomination or occupancy restrictions.
The apartments vary in size and layout, which is reflected in the achieved rent profile across the scheme, with rents ranging from £775 pcm to £1,200 pcm. The current passing rent amounts to £24,785 per calendar month, equating to £297,420 per annum. Two apartments are currently vacant, representing £1,790 per calendar month (£21,480 per annum) of immediate reversionary potential upon re-letting.
The asset is being marketed at £3,200,000, reflecting a gross yield of approximately 9.29% on the current passing income, rising to circa 9.97% on stabilisation through void resolution alone. Further income upside is available through the future occupation of units 10A and 10B, subject to final utility connections; these units are excluded from the current income and yield calculations.
Hanover Court is located within the IP4 postcode, an established and consistently lettable residential area of Ipswich, close to the town centre, waterfront amenities and transport links. The property offers a straightforward, income-led investment opportunity with diversified income across multiple tenancies and clear asset management upside, suitable for private investors, syndicates and regional funds.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
Lacey Street, Ipswich, IP4
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Visit our security centre to find out moreDisclaimer - Property reference cbed76b1-89b7-43a7-93c0-619090bbd301. 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 Joseph Property Agency, Ipswich. 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.
*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited. **This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.
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