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Retail Property (high street) for sale

149 High Street, Lowestoft

Sold STC £50,000

Property Description

Key features

  • Grade II listed high street shop
  • 120pa ground rent income
  • Potential to convert, stpc
  • Guide price: 50,000 - 70,000
  • For sale by auction
  • Unless previoulsy sold or withdrawn prior
  • 11:00am - Thursday, 7th June 2018
  • Dunston Hall Hotel, Ipswich Road, Norwich, NR14 8PQ

Full description

The property is Grade II listed and comprises a double fronted ground floor vacant retail/mixed commercial building with frontage to the High Street.

The property is situated to the west side of the High Street, part of an established retail area to the north of Lowestoft town centre. The property benefits from both a well populated residential catchment area and proximity to the town's main tourist areas.

Internally the accommodation is arranged to provide around 140sq/m (1,514sq/ft) of retail, office, staff and store areas. The property has a cellar area which runs the length of the building and to the rear a surfaced parking area for two vehicles with gated access.

The property was last used as an off licence and convenience store and was previously let at 9,000pa. It has potential to convert to provide residential unit(s) subject to the necessary consents.

According to the valuation office website, the property has a rateable value of 5,100. As it is listed it attracts the appropriate exemptions.

This freehold property has the benefit of a payment of 30pa ground rent from each of the four flats above (120pa) which are held on 999 year leases. Each flat owner is also liable for the payment of a maintenance charge of 35pcm towards the upkeep of the communal and exterior areas.

Description
Front sales area 45.4sq/m, rear sales area 43.6sq/m, office/sales area 20.5sq/m, workshop areas 25.8sq/m, store 5.5sq/m, w.c. Total: 140.8sq/m. Cellar not measured.

Viewings

17 May 2018 11:45 AM - 12:15 PM
24 May 2018 11:45 AM - 12:15 PM
31 May 2018 11:45 AM - 12:15 PM


Additional Fees
Administration Charge - 0.3% including VAT subject to a minimum of 840.00 including VAT
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.


More information from this agent

Energy Performance Certificates (EPCs)

Map & Street View

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*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.

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