46/48 Tavern Street, Ipswich

Investment - Sold

46/48 Tavern Street, Ipswich

Price

£2,762,000

Rent

£190,000

Description

The property is prominently position on Tavern Street, the town’s prime retailing street, adjacent to Nationwide and opposite Lush and H&M. The property has the benefit of a return frontage onto St Lawrence Street which in turn provides a busy thoroughfare onto Butter Market. The property is let to Poundworld Retail Limited on a new lease for 10 years with effect from 20th January 2016 subject to an open market rent review in the 5th year. The passing rent of £190,000 reflects a Zone A of approximately £98 psf. This is arguably reversionary with new leases being granted to Tiger and Pandora in excess of £100 ZA.

Net Initial Yield

6.50%

Contact Us

Contact one of the team at KLM Retail

Call us on +44 (0)20 7317 3700