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For Sale: £2,250,000

Under Offer

Giles Place , 31 Princes Street, Ipswich, Suffolk, IP1

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  • Area

    area
    0 - 33920Sq Ft

Location

Ipswich is the county town of Suffolk with a resident population of approximately 135,000. The A12 and A14 dual carriageways provide excellent road communications with the national motorway network, London and the Midlands. The town's railways station provides a regular service to London (Liverpool Street) with a minimum journey time of 1 hour 6 minutes.

The property occupies a prominent town centre location on the south side of Princes Street at its junction with Coytes Gardens and backing onto Friars Street; close to the iconic Willis Building, occupied by the global insurance brokers Willis Towers Watson. The train station is within half a mile to the south of the property.

Description

The property comprises a substantial five storey office building constructed in the 1970s. The building is of concrete frame construction with brick elevations under flat roofs and arranged upon ground and three upper floors, together with basement. The building has a glazed façade to the entrance and the majority of the accommodation is open plan, together with partitioned meeting rooms, kitchens and other facilities. The building is served by two 8 person lifts and the specification of the principal office accommodation includes air conditioning, suspended ceilings, recessed lighting and carpet floor coverings.

A vehicular entrance off Friars Street provides access to under croft parking for a minimum of 5 vehicles.

Accommodation

The premises provide the following approximate floor areas:

Net Internal Floor Areas
Ground Floor 6,250 sq ft ( 580.67 sq m)
First Floor 7,122 sq ft ( 661.67 sq m)
Second Floor 7,241 sq ft ( 672.77 sq m)
Third Floor 7,256 sq ft ( 674.10 sq m)
Fourth Floor 2,739 sq ft ( 254.43 sq m)
Basement 3,312 sq ft ( 307.67 sq m)
Total Net Internal
Floor Area 33,920 sq ft (3,151.31 sq m)

Gross Internal Floor Areas
Ground Floor 8,249 sq ft ( 766.35 sq m)
First Floor 8,359 sq ft ( 776.60 sq m)
Second Floor 8,391 sq ft ( 779.51 sq m)
Third Floor 8,390 sq ft ( 779.49 sq m)
Fourth Floor 3,608 sq ft ( 335.24 sq m)
Basement 4,820 sq ft ( 447.82 sq m)
Total Gross Internal
Floor Area 41,817 sq ft (3,885.01 sq m)

Development Potential

Prior approval was granted on 21st September 2021 for the conversion of the premises to provide 17 one bedroom flats and 18 two bedroom flats, together with basement storage (reference IP/21/00833/P3JPA).

There is potential to build an additional floor, subject to planning.

Information Pack

An information pack providing copies of the associated planning documents and floors plans is available via our website: http://www.fennwright.co.uk/development

Virtual Tour

A virtual tour is available via the following link:
https://my.matterport.com/show/?m=GThZRNwQ5tZ

Services

We understand that the property is connected to mains electricity, water and drainage.

We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility companies in connection with the availability and capacity of all of those serving the property including IT and telecommunication links.

Business Rates

The premises are assessed as follows:

Rateable Value
Lower Ground to Third Floor £183,000.00
Fourth Floor £ 16,500.00

Rates Payable
Lower Ground to Third Floor (2021/22): £93,696.00 pa
Fourth Floor (2021/22): £ 8,233.50 pa

Local Authority

Ipswich Borough Council
Grafton House
15-17 Russell Road
Ipswich
Suffolk, IP1 2DE

Tel: 01473 432000

Energy Performance Certificate Rating

C - 75

Terms

Offers are invited in the region of £2,250,000 for the freehold interest with vacant possession upon completion. The property is VAT exempt.

Features

  • Prominent town centre location.
  • Five storey office building.
  • NIA 33,920 sq ft (3,151 sq m) GIA 41,817sq ft (3,885 sq m) plus parking.
  • Planning approval for conversion to provide 35 flats with further scope for additional floor, s.t.p.

Map

Call our

Development team on

01473 417714
Make an enquiry

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