£250,000
Grimwade Street, Ipswich, Suffolk

Description

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A freehold income producing investment opportunity comprising office accommodation over three floors and extending to over 2,000 sq ft, close to the Waterfront and University in Ipswich.  

Potential for Residential Use/House in Multiple Occupancy Occupation (HMO) subject to change of use, and vacant possession in 2028.

 

Location

The property occupies a prominent position on the outskirts of the town centre and very close to the University of Suffolk and Suffolk New College - the ‘education quarter’ - and adjacent to the attractive Ipswich Marina/Waterfront. The property is within easy walking distance of the numerous facilities available at Ipswich Waterfront including cafes, restaurants, hotels and the main university campus building. 

The County town of Ipswich offers a good range of shopping, entertainment and leisure facilities. There are good rail links to London, Norwich and Cambridge and road links for the A14 and A12. 

 

Directions

For those using the What3Words app: ///worm.libraries.gone

 

Description

The property comprises an attractive 16th Century former merchant’s house, known as The Captain’s House, featuring panelled rooms with exposed timberwork and decorative plaster ceilings. There is an attractive well maintained garden to the rear. It has been used for commercial and professional uses for many years.

 

The Accommodation

Internally the property provides good quality office/commercial premises with part carpet and part timber boarding with night storage heaters and fluorescent lighting. There are WCs provided on the ground floor. There is a small front garden and large mature, walled garden to the rear. 

Ground Floor

Reception Office - 290 sq ft - 26.94 sqm 

Rear Office - 101 sq ft - 9.38 sqm 

Cloakrooms 

Kitchenette 

Office No 3 - 166 sq ft - 15.42 sqm 

Office No 4 - 147 sq ft - 13.66 sqm 

SUB TOTAL - 704 - 65.4 

First Floor 

Office No 5 - 222 sq ft - 20.62 sqm 

Office No 6 - 164 sq ft - 15.24 sqm 

Office No 7 - 331 sq ft - 30.75 sqm

SUB TOTAL - 717 sq ft - 66.64 sqm

Second Floor

Office No 8 - 210 sq ft - 19.5 sqm

Office No 9 - 176 sq ft - 16.35 sqm

Office No 10 - 214 sq ft - 19.88 sqm

SUB TOTAL - 600 sq ft - 55.7 sqm

TOTAL - 2,021 sq ft - 187.8 sqm

 

Services - The property is served by mains water, mains electricity and mains drainage. There is no gas provided.

 

Planning - The property has formerly been occupied as offices and is also authorised for Uses within Class F1 of the Use Classes Order which includes Medical and Health Services, Education and Training Centre, etc. The property may be suitable for alternative residential and House in Multiple Occupation (HMO) uses subject to formal planning permission and Listed Building Consent. 

 

Business Rates - Offices and premises Rateable Value £13,250

 

Tenancy - The whole building is let to AMH Care Ltd for 10 years from 18th September 2018 at a rental of £12,000 PAX. This lease is outside the Landlord & Tenant Act. The rent is being paid by Advantage Angels, rather than AMH Care Ltd. A rent deposit is held. There was provision for a rent review in September 2023 and no action was taken on this rent review.

 

Tenure - The property is held on a freehold tenure. 

 

Local Authority - Ipswich Borough Council

 

Legal Costs - Each party to be responsible for their own legal costs incurred in any transaction. 

 

EPC - To be assessed.

 

Viewing - Strictly by prior appointment with Clarke & Simpson.

 

Price/Proposition - We are instructed to seek offers in the region of £250,000 for the freehold investment which equates to approximately £120 per square foot capital value

 

NOTES

1.  Every care has been taken with the preparation of these particulars, but complete accuracy cannot be guaranteed.  If there is any point, which  is of particular importance to you, please obtain professional confirmation. Alternatively, we will be pleased to check the information for you.  These Particulars do not constitute a contract or part of a contract.  All measurements quoted are approximate.  The Fixtures, Fittings & Appliances have not been tested and therefore no guarantee can be given that they are in working order.  Photographs are reproduced for general information and it cannot be inferred that any item shown is included.  No guarantee can be given that any planning permission or listed building consent 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. Any site plans used in the particulars are indicative only and buyers should rely on the Land Registry/transf

 

2. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 require all Estate Agents to obtain sellers’ and buyers’ identity.

 

July 2025