169-170 High Street, Lowestoft, Suffolk NR32 1HU
- PROPERTY TYPE
Mixed Use
- BEDROOMS
5
- SIZE
Ask agent
Key features
- Valuable freehold mixed use investment
- Three tenanted residential flats producing £19,080, going up to £19,260 from July
- Vacant commercial premises with potential to convert to residential STP
- Guide price: £300,000
- For sale by livestream auction
- Unless previously sold or withdrawn prior
- 11:00am, Wednesday 1st May 2024
Description
FOR SALE BY LIVESTREAM AUCTION ON WEDNESDAY 1ST MAY
TO REGISTER FOR LEGAL PACKS AND BIDDING INSTRUCTIONS PLEASE VISIT OUR WEBSITE
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 Viewings arranged for Tuesday 12th March - APPOINTMENT ESSENTIAL - please telephone us on for a time slot to be allocated to you.
Tenure: Freehold
EPC Rating: Please refer to Legal Pack
Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Buyer's Premium Fee: £600 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.
169-170 High Street, Lowestoft, Suffolk NR32 1HU
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lowestoft Station0.7 miles
- Oulton Broad North Station1.8 miles
- Oulton Broad South Station2.3 miles
About the agent
Auction House, Covering East Anglia
The Barn Newmarket Road Cringleford Norwich NR4 6UE
Market position
Auction House East Anglia are firmly established as East Anglia's no.1 property auctioneers (based on lots sold) and we sell over 80% of lot entries in our local auctions. We hold regular auctions in Norfolk and Suffolk and Cambridgeshire and have offices in Norwich, Kings Lynn, Peterborough and Ipswich.
Trusted BrandAuction House East Anglia is part of the Auctio
Industry affiliations
Notes
Disclaimer - Property reference 202402221030sq_1cp9_copy_2024-04-04_153556. 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 Auction House, Covering East Anglia. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, Covering East Anglia on 01603 361653.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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