Commercial Development for sale

London Road North, Lowestoft

Fixed Price £250,000

Property Description

Key features

  • Prominent Town Centre Location
  • Development Opportunity

Full description

This is a promising opportunity to purchase a development project on London Road North which, after conversion, can be sold on or added to an existing rental portfolio.

The property consists of a three storey retail establishment that has planning permission for a prominent retail unit to the ground floor together with two one-bed flats to the rear and a further four one-bed flats on the first and second floors.

We estimate the conversion cost to be in the region of £30,000.00 per unit. Offering you an overall cost of the purchase and conversion in the region of £430,000.00

After conversion each one bedroom flat will rent in the region of £8,000.00 per annum, giving a total yield of 8.55%
The value of each flat for sale will be around £75,000.00 and the value of the shop will be in the region of £80,000.00 so the total value will be around £530,000.00 giving you an uplift of £100,000.00

Steel and Co can, if required, project manage the conversion.

*AWAITING EPC*


More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Lowestoft (0.4 mi)
  • Oulton Broad North (1.6 mi)
  • Oulton Broad South (2.1 mi)
Distances are straight line measurements from centre of postcode

Map & Street View

Nearest stations

  • Lowestoft (0.4 mi)
  • Oulton Broad North (1.6 mi)
  • Oulton Broad South (2.1 mi)
Distances are straight line measurements from centre of postcode

Disclaimer - Property reference 8283716. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Steel & Co Commercial Property Services, Lowestoft. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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