Commercial Property in IP31 available for sale
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Commercial Property for Sale near IP31, Bury St Edmonds

Find commerical property for sale in IP31 that meets your business or investment goals

More details for 21 High St, Ixworth - Retail for Sale

21 High St

Ixworth, IP31 2HH

  • Retail for Sale
  • £210,000
  • 413 sq ft
  • Smoke Detector

Ixworth Retail for Sale

A mixed-use property comprising a ground floor shop with access off the High Street and a let one bedroom flat over the shop, with its own separate side entrance and integral garage. The property was a former Post Office and still retains an operational Royal Mail post box set in the buildings façade. The last commercial tenant was formally a pizzeria and the shop has had various Class E uses over the years. There is a flying freehold with part of the apartment being over the property adjacent property. There is also a cellar which is accessible from the shop. The property lies on the High Street of the sought after village of Ixworth, just 6 miles from Bury St Edmunds. Ixworth is a particularly well served village having a range of shops, hairdressers, doctors surgery, school, church, village hall, library and fire station. Various eating establishments such as pubs, takeaways and a café. Just under 3 miles away can be found the Wyken Vineyard with its notable restaurant, regular farmers markets and events. There is a wide range of schooling nearby Ixworth Primary School (3-11), Ixworth High School and Thurston Community College (11-18), University of West Suffolk at West Suffolk Collage for further education. Nearby for private schooling is South Lee School and Culford School. The property is available for sale freehold at a guide price of £210,000 or the ground floor shop is available to let at £7,500 per annum. The flat is currently occupied on a periodic tenancy with a rent of £795 per calendar month (£9,540 per annum). The Landlord would consider letting the shop for an initial term of 3 years with the lease to be contracted outside of the Landlord and Tenant Act 1954. A deposit will be held by the Landlord equivalent to three months rent. With the rental income being part commercial and part residential this represents a considered low risk income stream. We understand mains electricity, water and drainage are connected. These services are shared between the shop and flat. (Durrants have not tested any apparatus, equipment, fittings or services and so cannot verify they are in working order).

Contact:

Durrants

Property Subtype:

Shopfront Retail / Residential

Date on Market:

25/09/2024

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Commercial Properties for Sale Within 5 miles of the IP31, Bury St Edmonds

FAQs About Commercial Property For Sale in IP31

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How many commercial properties are currently available for sale in IP31?
There are currently 1 commercial properties available for sale. Sizes range from to , with an average size of. Available opportunities may include offices, retail premises, industrial properties, mixed-use assets and development sites.
How much does commercial property cost in IP31?
The average asking price is approximately per sq ft, with prices ranging from to per sq ft. Property values will vary depending on location, size, condition, tenant status and market demand.
What factors influence commercial property values?
Property values can be affected by location, building quality, asset size, lease terms, tenant covenant strength, redevelopment potential and local market conditions. For investment properties, income generation and yield are also important considerations.
What types of commercial property are available to buy?
The market may include offices, retail units, industrial properties, warehouses, land, mixed-use buildings and specialist assets. Availability will vary depending on location and current market conditions.
What should I consider before buying commercial property?
Key considerations include location, accessibility, property condition, planning permissions, lease arrangements, operating costs and future growth potential. Buyers should also understand any legal, environmental or structural issues that could affect value or usability.
What is rental yield and why does it matter?
Rental yield measures the income generated by a property relative to its purchase price. Investors often use yield to compare opportunities, although it should be considered alongside factors such as tenant quality, lease length and potential for capital growth.
Can I buy commercial property for my own business?
Yes. Many buyers purchase commercial property to occupy themselves rather than as an investment. Owning premises can provide greater control over operating costs, security of tenure and the potential to benefit from future capital appreciation.
Do I need a commercial mortgage?
Many buyers use commercial finance to fund acquisitions. Deposit requirements, lending terms and borrowing costs vary depending on the property, the buyer's circumstances and the intended use of the asset.
What due diligence should I carry out before buying?
Due diligence typically includes reviewing title documents, planning permissions, leases, service charge information, environmental matters and building condition reports. Professional legal and surveying advice is strongly recommended before completing a purchase.
What are the risks of buying commercial property?
Potential risks include market fluctuations, vacancy periods, tenant default, maintenance costs, planning restrictions and changes in local demand. Thorough due diligence and effective asset management can help reduce these risks.
Can overseas buyers purchase commercial property in the UK?
Yes. International buyers can purchase commercial property in the UK, although additional legal, tax and regulatory considerations may apply. Professional advice should be obtained before proceeding with a transaction.
What additional costs should I budget for?
In addition to the purchase price, buyers should budget for Stamp Duty Land Tax, legal fees, surveys, finance costs, insurance and any refurbishment or fit-out works that may be required.

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