Major Ipswich apartment block put up for sale for £1.75million
A major house of multiple occupation in Ipswich with 80 apartments is up for sale.
Auction House London has said that people will be able to bid for the 17,461sq ft Alexander House in St Matthews Street, with the guide price set at £1.75million.
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The building, close to the centre of Ipswich, is advertised as a "substantial residential investment opportunity", with each apartment potentially bringing in hundreds of pounds of rent each month.
In an advertisement on the property website rightmove, Auction House London said the two adjoining buildings bring in £301,000 in rent each year, with the potential to bring in £350,000 a year when fully let.
Of the 80 apartments, 42 have a house of multiple occupancy (HMO) licence and 38 are self-contained, with the apartments spread across three floors and five floors in the two buildings.
Many of the rooms share communal kitchens and living rooms, with both the primary block of 50 apartments and smaller Mews Block of 22 apartments having roof terraces.