Investing in property offers a myriad of opportunities, but have you ever considered the benefits of owning a residential property with a commercial rental attached? Combining living quarters with lucrative takeaway businesses, let's take a look at two upcoming lots that highlight the advantages of a dual-purpose investment.
385 Spring Road, Ipswich
First, we have 385 Spring Road in Ipswich, Suffolk which is being offered with a guide of £225,000 - £275,000 (plus fees). As one of England's oldest towns, the area has picturesque surroundings whilst providing modern practicalities such as excellent transport links, including rail connections to London. An ideal location for an established takeaway with spacious living accommodations.
The main premises operates as a fish and chip shop with living accommodation above. Boasting three light and generously sized bedrooms and a large open-planned living area, it benefits from generous proportions. If you're considering tenancies, the space could be transformed into rental accommodation, which would provide you with multiple streams of revenue from just one location.
Not only is the Fish and Chip shop well established in the area, but it also comes with an outbuilding that currently functions as a preparation area, and a potential building plot, providing an additional value-add opportunity. Although now expired, planning had previously been granted for an additional two-storey building with mixed-use to be erected on the site.
Full details of the previous planning application can be found under application number 15/00277 on the Ipswich Borough Council website.
To find out more see lot 46 in our listings or contact the Ipswich office on 01473 558 888 to arrange a viewing.
24 & 24A Market Place, Hingham
Next, we have a mixed-use property in Hingham, Norfolk which has a guide price of £250,000 - £300,000. Comprising a freehold, four-bedroom house and a leased takeaway, it presents an attractive investment opportunity whereby the winning bidder can start earning from the day of completion.
Number 24, the commercial portion, is currently let by the established local takeaway, Hingham Fish Bar. With a 15-year lease which began on 1st November 2021, it currently produces a rental income of £11,520 pa (£960 pcm). With both front and rear access, the business also has use of a functional outbuilding, gated courtyard and an outdoor WC.
At 24A, you’ll find the residential section of the property which boasts generous proportions and light, airy rooms. The ground floor offers a dual-aspect lounge, a large kitchen with a dining area, and a brick conservatory leading out to the courtyard. On the first floor, you can find four bedrooms, including a dual-aspect principal bedroom with a shower ensuite.
Two outbuildings, a garage and a private courtyard which offers off-road parking can be found at the rear of the property, secured by a double gate.
Situated approximately nine miles west of the city of Norwich, the market town of Hingham is renowned for its historic charm and scenic surroundings. The area has excellent transport links and plenty of local amenities.
To find out more, see lot 75 in our listings or contact the Norwich office on 01603 505 100 to request a viewing.
Interested in one of our featured properties?
If you're looking for your next investment why not consider a mixed-use establishment that can provide you with a steady source of income? Both lots are due to go under the hammer on the 1st May 2024 in our livestream auction, so reach out to our teams at Auction House East Anglia before auction day to get your questions answered.
