Summary - 40, PRINCES STREET IP1 1RJ
1 bed 1 bath Office
High-spec income asset with near-term lease events and strong connectivity.
Freehold office built 2008 to high specification
Net income £196,150 pa; rises to £202,400 in Jan 2026
Fully let; one lease expires in 1 year, second has ~5 years left
Comfort cooling, raised floors, lift, video entry system
On-site off-street parking and excellent digital connectivity
Prime town-centre location — 5–10 minute walk to station
Area classified as very deprived with very high local crime levels
Large floor area (13,813 sq ft) — flexible layout for reconfiguration
A rare freehold office asset in central Ipswich, constructed in 2008 to a high specification and arranged as predominantly open-plan workspace. The building benefits from comfort cooling, raised floors, lift access, video entry and on-site off-street parking — features that appeal to professional occupiers and support easy subletting or reconfiguration.
The property is fully let, producing a current net income of £196,150 pa, rising to £202,400 pa in January 2026. Tenancy mix includes one long lease nearing expiry (15-year lease expiring in one year) and a second lease with around five years remaining, offering immediate cashflow with short-to-medium term re-letting risk to consider.
Location is a standout: a 5–10 minute walk to Ipswich railway station and town centre, opposite notable commercial buildings and within the town’s professional services corridor. Good mobile and fast broadband connectivity support modern occupiers, while nearby amenities and schools add local convenience.
Buyers should note material local challenges: the surrounding area is classified as very deprived with recorded very high crime levels. These factors may affect tenant demand, insurance costs and long-term rental growth, and should form part of underwriting and asset management plans.
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