SoldFully Let Freehold Office Investment For Sale - Leiston, Suffolk
Passing rent of £62,583 pa reflecting an average of £14.50 per sq ft
Colonial House,
Station Road, Leiston, SUFFOLK IP16 4JDLeiston is an affluent Suffolk town 20 miles north east of Ipswich benefitting from being 2 miles west of Sizewell B Nuclear Power Station and the new Sizewell C Project. The Sizewell C Project is the construction of a 3.2 gigawatt nuclear power station, which is expected to complete in the next 9-12 years at a cost of £38 billion, creating 10,000 jobs during construction and to be in operation for at least 60 years. The project will further benefit the local economy by way of The Sizewell C Memorandum of Understanding and The Neighbourhood Fund. Under the Memorandum of Understanding, the Sizewell C Consortium has committed to spending £4.4 billion with businesses across the East of England, supporting regional employment, skills and supply-chain opportunities (https://www.sizewellc.com/news-views/final-investment-decision-reached-for-sizewell-c-the-biggest-british-clean-energy-project-in-a-generation/).
The property is prominently situated within the well established Master Lord Industrial Estate, the primary industrial/business park in Leiston.
The property has a pleasant aspect overlooking a green area.
The only other office space available in Leiston is serviced offices on Sizewell Road - these do not serve the same market as the subject property.
Accommodation
Net internal area 400.97 sq.m. / 4316 sq.ft. | Total income passing p.a.: £62,583
| Ground Floor Suite 7 and First Floor Suite 1 | 191.38 sq.m. / 2059 sq.ft.
10 demised car spaces
Let to Dayes Ltd for 5 years from 1/2/2025 on an effectively FRI lease with a tenant break option on 1/2/2028
Income passing p.a. £30,900 |
| First Floor Suite 4 | 38.09 sq.m. / 409 sq.ft.
3 demised car spaces
Let to Qdex Ltd for 5 years from 25/12/2024 on an effectively FRI lease with a tenant break option on 24/12/2027
Income passing p.a. £6,150 |
| Ground Floor Suites 8 & 9 | 37.81 sq.m. / 406 sq.ft.
2 demised car spaces
Let to Bees Buzz PR Ltd for 6 years from 25/12/2024 on an effectively FRI lease with a tenant break option on 24/12/2027
Income passing p.a. £6,105 |
| Ground Floor Suites 10 & 14 | 96.99 sq.m. / 1043 sq.ft.
6 demised car spaces
Let to Citizens Advice East Suffolk for 5 years from 24/6/2025 on an effectively FRI lease
Income passing p.a. £12,528 |
| Ground Floor Suites 11 & 12 | 36.70 sq.m. / 395 sq.ft.
2 demised car spaces plus 3 bus spaces
Let to Coastal Accessible Transport Services Ltd for 6 years from 1/2/2025 on an effectively FRI lease with a rolling tenant break option
Income passing p.a. £6,900 |
| Non-demised car spaces | 4 visitor spaces and 1 disabled user car space
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The property comprises a modern and attractive two-storey office building providing well-configured and flexible office accommodation, currently divided into 9 smaller office suites, and extending to approximately 400.97 sq m (4,316 sq ft). The accommodation is predominantly open plan and benefits from a passenger lift serving both floors. The property also benefits from 31 demised parking spaces, 3 of which are minibus parking spaces, 4 of which are visitors' spaces and 1 being for a disabled user. 26 of the spaces are demised with the leases. This is an excellent ratio of car spaces to built space.
The property is the northern half of a larger building, the southern half having already been converted to provide 10 residential apartments. The configuration and layout of the building lends itself well to residential conversion and, accordingly, the subject property may offer potential for full residential conversion, subject to obtaining all necessary consents.
The building was built in 1969 and is constructed in loadbearing brickwork, being 13.5" at ground floor and 9" at first floor. There is a concrete ring beam and the first floor is timber over steel beams which run front to back at 1800 centres.
The property is fully let on effectively FRI leases (the tenants pay a service charge and insurance in addition to the rent). All the leases are contracted outside the security of tenure provisions of the Landlord & Tenant Act 1954.
The property was originally used as a training centre where welding used to take place and has a substantial dedicated power supply. UK Power Networks have confirmed that the supply is whole current 3 phase which should allow up to 69 kVA. There are already some electric car charging points at the property.
Our clients have not had a single letting void in the property within the last 10 years except for when Suite 1 was being reconfigured for a new tenant who had already agreed to take the space.
Our clients have had to turn people away who are interested in renting office space.
We are instructed as Joint Auctioneers with Acuitus, contact John Mehtab 020 7034 4855 and Gway Kanokwuttipong 020 7034 4864. The property will go to the auction on 29th October 2026 if not sold prior.
Please note that the floor areas have been supplied by our clients.
Terms
Freehold for sale subject to the leases. If you are the successful bidder Acuitus (joint auctioneer) requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts.
The property is VAT-elected but is to be sold as a TOGC which means that providing the buyer is registered for VAT the purchase would fall outside the scope of VAT.