For more than 40 years, a retro-styled restaurant and bar has been drawing in fans on Lowestoft’s High Street and a generous income of £52,000 per annum. Now up for sale in our 26th March auction along with its two self-contained flats, savvy buyers have the opportunity to snap up 167-168 High Street for a guide price of £450,000 – £500,000 (plus fees).
A tour of Sgt. Peppers
Sgt. Peppers has had a lengthy presence in the town centre and is let on a long-term lease (20 years from October 2022).
On the ground floor is the main bar and restaurant area, which has a substantial amount of space for patrons to enjoy themselves. This level also features the first set of toilets, as well as the kitchen and preparation area, which dishes up hearty bar favourites along with a good serving of Beatles lyrics.
Further seating is provided in the restaurant’s basement, which is filled with nostalgic pop and rock memorabilia.
Upstairs, you can find further toilets for patrons as well as access to the restaurant manager’s accommodation.
The property also includes two self-contained flats, which offer up an additional profitable income stream. These apartments are accessed from a separate entrance to the side of the building.
This mixed-use offering is currently producing an impressive £52,000 per annum, making it a very attractive investment for someone looking to expand their property portfolio.
Prime location with high footfall
This lot has a very prominent position in the centre of Lowestoft, a coastal town in Suffolk. The property sits on the historic High Street, which boasts a number of independent shops and businesses that benefit from proximity to the town’s enviable sandy beach.
Residents and visitors are also drawn towards the town centre thanks to the entertainment provided by Lowestoft’s two piers, along with the popular Pleasurewood Hills Theme Park.
Bryan Baxter, Auctioneer and Director of Auction House East Anglia, commented: “Having traded for over 42 years and undergone a long-term lease renewal in 2022, the sale of Sgt. Peppers presents a secure long-term investment opportunity that is not to be missed.”
If you would like to know more about 167-168 High Street, please get in touch with the Norwich office on 01603 505100 to arrange a viewing.
