Property photos
Auction
Freehold
Guide price
£250,000
Retail premises for sale
169-170 High Street, Lowestoft, Suffolk NR32Local area information
Property location
Nearby amenities
- St Margaret's Primary Academy 0.4 miles
- Poplars Community Primary School 0.5 miles
- Lowestoft 0.7 miles
- Oulton Broad North 1.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
For sale by auction on Wednesday, 24 Jul 2024 at 11:00
Venue: Livestream Auction
Substantial freehold mixed use building with three residential flats currently let producing £19,080 per annum and a vacant ground floor office with basement and further detached studio/store to rear
This valuable and high profile freehold mixed use investment property comprises of a ground floor and basement commercial unit, 2 one bedroom flats and a three bedroom maisonette along with vacant studio and parking to the rear. The flats currently produce a combined rental income of £19,080 per annum and will be going up to £19,260 in July. The ground floor and basement are now vacant but were previously let to a vets and escape rooms, providing an income of £16,000 per annum. Potential may exist to convert this space to further residential accommodation (stpp) which would enhance the income potential.
Lowestoft is a busy coastal town with a full range of community facilities, public transport and shops.
Ground Floor and Basement Office Suite
Fronting directly onto The High Street this range of rooms and offices were previously let to a veterinary surgery and as an escape room entertainment complex, although vacant the building could be adapted for a range of alterative uses.
The Flats
There are three tenanted properties approached from the rear carpark, one is a three bedroom maisonette producing £600 pcm (Flat 3) and the 2 one bedroom flats each producing £495 pcm (Flats 1 and 2).
Flat 2 will be increasing to £510 pcm from July.
Business Rates
1 April 2023 to present £12,250
Council Tax Band
Flat 1 - A
Flat 2 - A
Maisonette - B
Viewing
Individual viewings can be arranged. Please call the Norwich Office to book an appointment.
EPC Rating: Please refer to Legal Pack
Additional Fees
Buyers 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.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Venue: Livestream Auction
Substantial freehold mixed use building with three residential flats currently let producing £19,080 per annum and a vacant ground floor office with basement and further detached studio/store to rear
This valuable and high profile freehold mixed use investment property comprises of a ground floor and basement commercial unit, 2 one bedroom flats and a three bedroom maisonette along with vacant studio and parking to the rear. The flats currently produce a combined rental income of £19,080 per annum and will be going up to £19,260 in July. The ground floor and basement are now vacant but were previously let to a vets and escape rooms, providing an income of £16,000 per annum. Potential may exist to convert this space to further residential accommodation (stpp) which would enhance the income potential.
Lowestoft is a busy coastal town with a full range of community facilities, public transport and shops.
Ground Floor and Basement Office Suite
Fronting directly onto The High Street this range of rooms and offices were previously let to a veterinary surgery and as an escape room entertainment complex, although vacant the building could be adapted for a range of alterative uses.
The Flats
There are three tenanted properties approached from the rear carpark, one is a three bedroom maisonette producing £600 pcm (Flat 3) and the 2 one bedroom flats each producing £495 pcm (Flats 1 and 2).
Flat 2 will be increasing to £510 pcm from July.
Business Rates
1 April 2023 to present £12,250
Council Tax Band
Flat 1 - A
Flat 2 - A
Maisonette - B
Viewing
Individual viewings can be arranged. Please call the Norwich Office to book an appointment.
EPC Rating: Please refer to Legal Pack
Additional Fees
Buyers 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.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Floor plans and tours
Floor plans (1)
More information
Listed by
Auction House East Anglia
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