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Commercial Development for sale

London Road North, Lowestoft

Withdrawn from Market £250,000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.


More information from this agent

Energy Performance Certificates (EPCs)

Map & Street View

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