Yoxford, Nr Heritage Coast, Suffolk

Guide Price £625,000 Sold Mixed Use Investment Opportunity 2 Bedrooms
A mixed use investment opportunity with scope for redevelopment (stp) comprising two retail units and a two bedroom apartment, in the centre of the popular and accessible village of Yoxford.
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An owner-occupied retail unit arranged over ground and first floors.
A ground floor café currently let and generating £7,500 per annum.
A first floor two bedroom apartment currently let generating £4,800 per annum.
In all over 4,000 sq. ft. (372 sqm).
Off-road parking and gardens to the rear.

Location Suffolk House will be found on the High Street (The A1120 Suffolk Tourist Route) in the very centre of Yoxford; a highly desirable village with a village store, an assortment of antique shops and galleries, a primary school, tennis, bowls and cricket clubs, two pubs, cafés and restaurants and the Satis House restaurant/hotel.

It is located adjacent to the A12 trunk road giving it easy access to the north and south as well as to the Heritage Coast, with the popular resorts of Aldeburgh (10 miles), Dunwich (6 miles), Walberswick (8 miles), Southwold (10.5 miles) and Snape (7.5 miles) all within a short drive. Yoxford is also home to the annual Arts Festival, which features musicians, actors and poets with many workshops, master classes and exhibitions being held in the village. The nearby railway station at Darsham gives regular services to Ipswich and, in turn, onto London Liverpool Street Station. There is also a railway station at Saxmundham, (4 miles), and further facilities including Waitrose and Tesco supermarkets.

Description Suffolk House comprises an extensive, mixed use investment opportunity in the centre of the popular and accessible village of Yoxford, close to the A12 trunk road and with good access links to the Heritage Coast.

The building is not Listed, but is believed to date from the late 18th Century. The vendor has operated his antique business from the main part of the building for 30 years, but is selling as he wishes to downsize. The vendor would, however, consider a short term lease at a market rent for just the ground floor area and vacating the first floor accommodation for possible redevelopment, subject to the necessary consents.

Excluding the garage, the building extends to over 3,600 square feet (335 sqm), and comprises a retail unit (Suffolk House Antiques), that is arranged over ground and first floors. Previously the first floor retail accommodation serving Suffolk House Antiques was used as two 2 bedroom apartments, with independent accesses seemingly straightforward to reinstate. The service connections on the first floor are also still in situ (although not tested).

Adjoining Suffolk House Antiques is the tea room (formerly the post office serving the village) and trading as G & Ts. This is a ground floor retail unit with use of part of the garden for outside dining, and with a passing rent of £7,500 per annum.

In addition there is a first floor two bedroom apartment, which the tenants of G & Ts occupy under the terms of an assured shorthold tenancy and paying £4,800 (£400 pcm).

Outside there is off-road parking set beneath the first floor apartment. We are advised that, historically, this part of the building was enclosed, and offers scope for redevelopment, subject to the necessary consents. To the rear is a good size garden, and part of this is included within the lease for the tea room (G & Ts).

Approximate Schedule of Areas & Passing Rent

Suffolk House Antiques – Ground Floor 1,002 sq ft; 93.07 sqm – Passing Rent = N/A- owner occupied

Suffolk House Antiques – First Floor 1,450 sq ft; 134.71 sqm – Passing Rent = N/A- owner occupied

The Tea Room (G & Ts) – 600 sq ft; 55 sqm – Passing Rent = £7,500 pa

First Floor 2 bedroom Apartment – 585 sq ft; 54.37 sqm – Passing Rent =£4,800 pa

TOTAL 3,637sq ft; 337.15 sqm – Passing Rent = £12,300pa

Viewing Strictly by appointment with the agent. No more than two related viewers will be admitted to the property and assurances must be provided that neither party has Covid-19 symptoms.  Viewers must bring with them appropriate PPE (mask) and sanitise accordingly.

Services Mains water, electricity and drainage connected. Night storage heaters serving parts of the retail premises and the apartment. Former gas connection that has not been tested.

EPC Suffolk House Antiques – Rating = D

Flat – Rating = B

G&Ts – Rating = C

Council Tax Flat Band A; £1,231.53 payable per annum 2021/2022

Business Rates G&T’s Café Rateable Value £4,600 per annum;

Suffolk House Antiques Rateable Value £4,850 per annum

Local Authority East Suffolk Council; East Suffolk House, Station Road, Melton, Woodbridge, Suffolk IP12 1RT; Tel: 01394 383789

NOTES 1.    These particulars are produced in good faith, are set out as a general guide only and do not constitute any part of a contract. No responsibility can be accepted for any expenses incurred by intending purchasers or lessees in inspecting properties which have been sold, let or withdrawn. Interested parties should rely on their own/their surveyors investigations as to the construction type of the property and its condition. No warranty can be given for any of the services or equipment at the property and no tests have been carried out to ensure that heating, electrical or plumbing systems and equipment are fully operational. Any distances, room aspects and measurements which are given are approximate only. Any plans are indicative only and may not be the same as the transfer plan/s.  No guarantee can be given that any planning permissions or listed building contents or building regulations have been applied for or approved. The agents have not been made aware of any covenants or restrictions that may impact the property, unless stated otherwise.

2. Under Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 we, as Estate Agents, are required to obtain identification from buyers in the form of the photo page of your passport or a photo driving licence. The document must be in date. In addition, we need proof of address in the form of a utility bill with the name and address of the buyer. This must not be more than three months old. We are also under obligation to check where the purchase funds are coming from.

May 2021

 

Stamp Duty

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