Carousel Pub and Flats 1 & 2, 108 High Street, Lowestoft, Suffolk NR32 1XW
- PROPERTY TYPE
Mixed Use
- BEDROOMS
4
- SIZE
Ask agent
Key features
- Great ready made investment opportunity
- Public house leased until 12/11/2028
- Two generous two bedroom flats leased on a contract with 3 years remaining
- Prominent High Street position
- Impressive historical bulding
- Suffolk coast town of Lowestoft
- Guide price - £260,000 - £280,000 + VAT
- For sale by livestream auction
- Unless previously sold or withdrawn prior
Description
AVAILABLE
The Carousel public house with two recently refurbished two bedroom flats above. Currently let producing £32,400 pa
The Carousel public house is situated in a prominent position on the corner of the High Street in the Suffolk coastal town of Lowestoft. Formerly known as The Wheatsheaf this popular pub occupies a stunning historic building. This substantial building is located in a conservation area and has been funded by grants for major works on the exterior of the building. The owner has also in the past two years made major improvements to the interior of the building costing £125,000 to include rewiring, new fire alarms, plumbing renewed and the roof has had repairs. Two generous flats have been completely refurbished and are currently yielding £1,200 pcm on a fixed term lease agreement with 3 years remaining and have self-contained electric supplies. The pub is yielding £1,500 pcm and has a lease of until 12/11/2028 which commenced recently. This is a great ready made investment property. Viewings can be arranged.
NB: The basement does have planning permission for conversion to a further flat.
Pub Porch, bar area, pool table area, seating area with outside terrace, stairs to male and female toilets, meter room, cellar, function room with PP to be converted to a further flat if required.
Flat 1 Accessed via a communal hall with stairs to entrance. Hall, sitting room, two bedrooms, kitchen and shower room.
Flat 2 Accessed via a communal hall with stairs to entrance. Hall, sitting room, two bedrooms, kitchen and shower room.
Exterior Parking to the rear
Council Tax Band A, A
Business Rates Current rateable value £4,600
Note Please note this Lot is subject to VAT
Tenure: Freehold
EPC Rating: Flats = E, E, Pub = D
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: £960 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.
Carousel Pub and Flats 1 & 2, 108 High Street, Lowestoft, Suffolk NR32 1XW
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lowestoft Station0.4 miles
- Oulton Broad North Station1.7 miles
- Oulton Broad South Station2.1 miles
About Auction House, 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 Auction House UK group of 40 regional auction rooms covering England, Scotland and Wales; the network sells more properties 'under-the-hammer' that any other auctioneer and are multi award winners.
More auctionsAuction House East Anglia hold 7 regional auctions per year, providing sellers short sale lead in times and more opportunity to sell, as well as weekly national auctions.
Expert property auctioneersAuction House East Anglia is directed by Bryan Baxter as its resident auctioneer. Bryan's team is highly skilled and knowledgeable, ensuring that accurate advice is provided to sellers around Reserve and Guide Price setting. Bryan is also a regular 'celebrity' auctioneer featuring on the TV program Homes Under The Hammer.
Types of property we sellWe sell residential and commercial property and land, including land and tenanted investments.
Help & adviceFriendly free advice without obligation and that includes auction valuations. We visit all properties when providing advice this ensures accuracy
Open House ViewingsWe organise attend three to four viewing sessions at each property lot entered into auction. This approach ensures we meet prospective buyers and creates the multiple viewing system creates prospective purchaser competition
Areas coveredNorfolk, Suffolk, Cambridgeshire, North Essex and South Lincolnshire
Powerful marketingIn order to get the best price each property needs effective promotion on the market, so we use the major UK property portals and our own auctionhouse.co.uk/estanglia website. Properties are also marketed via local and regional press such as the Eastern Daily Press, the Peterborough Telegraph, Your Local Paper and the East Anglian Daily Times
Choice of auction methodAuction House East Anglia provides non-conditional (immediate exchange) local and online auctions and conditional (flexible exchange) online auctions. The auction team will provide advice on the most suitable method of auction for your property or land.
Notes
Disclaimer - Property reference 202404181257sq_rqka_copy_2024-09-26_144809. 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, 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, 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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