A substantial town centre freehold property with extensive accommodation over four floors. Planning approved for three flats and retail shop.

This high profile and impressive shop is at the heart of Lowestoft town centre, next to Lloyds Bank and other major high street retailers. The property which extends to approximately 220 sq/m (2,300 sq/ft) has three upper floors with planning permission granted for conversion into three residential units or could offer storage. There is parking at the rear and the property is a short distance from the railway station, harbour and sea front. This exciting redevelopment opportunity offers excellent investment possibilities being positioned in a highly convenient location. Lowestoft is a popular seaside town with a population of around 60,000 with increased seasonal trade during summer months. Vat is not applicable to this lot.

Tenure

Freehold

Ground Floor

Retail areas, office, staff room and storage, rear access to car park

Upper Floors

Various offices, toilets and storage rooms with access to first floor provided by rear external staircase.

Outside

The parking area is approached from the rear, suitable for 1-2 vehicles.

Planning

East Suffolk Council have granted planning permission to convert the commercial storage into 3 flats comprising: 2 bedroom flat (55 sqm) 1 bedroom flat (40 sqm) 1 bedroom flat (42 sqm). The ground floor to be retained as retail. Planning Ref. DC/22/2964/FUL. The pre-commencement planning conditions have been lifted Ref. No: DC/22/4760/DRC. Building regulations approval for a full plan submission now received :Ref. No: BC/22/5533/FP

Rating Assessment

Rateable Value £17,750 Rates Payable £8,857.25

Viewings

Viewings can be arranged. Please call the Norwich office to book an appointment.

Utilities

UK power networks have confirmed the building has a 3-phase electric power supply E&S water have confirmed they can install 3 new water meters The building come with a gas connection

Energy Efficiency Rating (EPC)

Current Rating E

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Waveney District Council

Solicitors

Ward Gethin Archer (Dereham), Ref: Tracy Guest, Tel: 01362 852918

Additional Fees

Buyer's Premium - £600 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.