St. Johns Street, Bury St. Edmunds, IP33 1SJ

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A mixed use let investment producing £14,400 per annum comprising restaurant and 4 bedroom flat.

VAT-free Investment.

For Sale by Timed Online Auction – 12th November 2024

Method of Sale

The property is offered for sale by Unconditional Timed Online Auction on 12th November 2024 and on the assumption the property reaches the reserve price, exchange of contracts will take place upon the fall of the electronic gavel with completion occurring 20 working days thereafter. For details of how to bid please read our Online Auction Buying Guide. 

The vendor’s solicitor has prepared an Auction Legal Pack.  This is available to view online and interested parties should Register online to receive updates. If you are viewing a hard set of these particulars or via Rightmove or alike please visit the Online Property Auctions section of Clarke and Simpson’s website to Watch, Register and Bid. 

Seller’s Solicitors

The seller’s solicitors are Prettys Solicitors LLP; 6th Floor, St Vincent House, 1 Cutler Street, Ipswich IP1 1UQ  Tel: 01473 232121; For the attention of Joesph Jordan, email: jjordan@prettys.co.uk. We recommend that interested parties instruct their solicitor to make any additional enquiries prior to the auction.

Location

Bury St Edmunds offers an excellent range of amenities with schooling in the private and public sectors, extensive shopping facilities and a good range of leisure facilities including health clubs, swimming pools and golf clubs. There are numerous restaurants and cultural amenities including the beautiful Georgian Theatre Royal and The Abbey Gardens. There is good access to the A14, A11 (M11) and the railway station at Bury St Edmunds offers a link to mainline services to London’s Liverpool Street and King’s Cross. Alternatively, there is a regular train service from Stowmarket to London Liverpool Street taking approximately 80 minutes. Stansted International Airport is approximately 50 minutes by car. 

Directions

From Cornhill in the town centre, head north on St Johns Street where the property will be found on the right hand side after approx. 1/4 of a mile.  

What3Words location: ///slower.drops.attending

Description

61-63 St Johns Street comprises a three storey end terraced mixed use property arranged as a ground floor restaurant with a four bedroom flat above. In total the property extends to 2563sqft (238sqm).

The ground floor accommodation comprises a smart restaurant area with bar, prep and cooking kitchens, stores and wc facilities. The first floor offers three bedrooms, a study/sitting room and shower room with stairs leading up to the second floor where there is three further rooms. The property also has two cellars. To the rear of the property is a small courtyard with a range of dilapidated brick outbuildings.

Tenure & Possession 

The property is offered freehold subject to and with the benefit of the tenancy referenced below:-

A single lease dated 15th November 2017 for the whole property with the lease being assigned to the current Tenant in 2019. The rent is £14,400 per annum (no VAT) payable in equal monthly instalments. The contractual term ends 14th November 2027. Please see the legal pack for further information. 

Services

Mains water, gas and electricity. Mains foul drainage. 

EPC

Exempt (as Grade II Listed)

Viewing

Strictly by appointment with the agent.  

Local Authority

West Suffolk Council; West Suffolk House, Western Way, Bury St Edmunds IP33 3YU. Tel: 01284 763233