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Pier Terrace, Lowestoft

£175,000

£55.91 per sq ft

Business rates & charges may apply

Paul Hubbard Commercial, Suffolk
SIZE AVAILABLE

3,130 sq ft

291 sq m

SECTOR

4 bedroom mixed use property for sale

Key features

  • Mixed-use freehold in prime harbourside location
  • Over 3,000 sq ft across four floors plus basement
  • Ground floor commercial unit + 3-bed flat + 1-bed flat
  • Basement with 3 rooms, toilet + potential for conversion
  • Spacious rear garage and on-road parking
  • One flat let at £450 pcm, remainder vacant
  • Potential income of £22,000 pa once refurbished
  • Flexible use for business, investment or family living
  • Refurbishment and updating required throughout
  • EPCs: 6 (E), 6A (E), 6B (E) | Business Rates: £5,600

Description

3,000+ sq ft mixed-use freehold in a prime harbourside location, offering commercial and residential space with strong income potential once refurbished

6, 6A & 6B Pier Terrace, Lowestoft - Paul Hubbard Commercial are pleased to present this fantastic mixed use investment opportunity, close to the seafront in Lowestoft town centre.

Arranged over four floors plus basement, the property currently comprises a ground-floor commercial unit, a spacious three-bedroom flat, a one-bedroom flat, and a basement with three rooms and toilet, together with a garage to the rear. One flat is currently let at £450 pcm, with the remainder of the building vacant and ready for refurbishment.

The property offers excellent flexibility for different buyers. It could suit someone wishing to open and run a business in the ground floor unit while enjoying generous living accommodation above, or it could equally appeal to an investor seeking a strong yield by modernising and letting the building in full. Once refurbished and fully occupied, the property is expected to generate rental income in the region of £22,000 per annum.

The basement could be converted into further living accommodation, used as storage, or integrated as an extension of the ground floor commercial space. At the rear, the spacious garage and on-road parking provide additional convenience, while the upper floors could remain as self-contained flats or be reconfigured into larger living accommodation for a family or staff. Refurbishment and updating is required throughout, presenting clear scope to add value.

Its harbourside location is a key selling point, offering attractive views and excellent visibility for commercial use, while also being within easy walking distance of the beach, seafront, town centre and train station. The combination of residential and commercial elements creates scope for multiple income streams and long-term value growth.

Overall, this is a rare opportunity to acquire a freehold property with both lifestyle and investment potential, in one of Suffolk’s most promising coastal towns. Viewing is strongly recommended to appreciate the scope on offer.

Key Information:

EPC Ratings: Commercial Unit (6) – E, Flat (6A) – E, Flat (6B) – E
Business Rates: Ground Floor Commercial Unit Rateable Value £5,600

Disclaimer - Paul Hubbard Commercial for themselves and for the vendors/lessors of this property give notice that: (1) these particulars are set out as a general outline only and do not constitute any part of an offer or contract; (2) all descriptions, dimensions, references to condition, use, and other details are given in good faith but without responsibility and should not be relied upon as statements or representations of fact; (3) interested parties must satisfy themselves as to the accuracy of all information and carry out their own investigations, including planning, rates, and services; and (4) all figures quoted are exclusive of VAT unless stated otherwise. Subject to contract and availability.

Brochures

Pier Terrace, Lowestoft

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Lowestoft Station0.2 miles
  • Oulton Broad North Station1.4 miles
  • Oulton Broad South Station1.7 miles

About Paul Hubbard Commercial, Suffolk

178-180 London Road South, Lowestoft, Suffolk, United Kingdom, NR33 0BB

Notes

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Disclaimer - Property reference 34205508. 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 Paul Hubbard Commercial, Suffolk. 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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