Freehold Retail Investment
Freehold Retail Investment
Lowestoft is a popular coastal town approximately 10 miles south of Great Yarmouth and 27 miles south-east of Norwich. The property is situated in a prominent position on London Road North, Lowestoft's prime pedestrianised retailing thoroughfare. The property benefits from being 300 metres from Lowestoft Railway Station. Nearby retailers include Marks & Spencer, Greggs, Boots the Chemist, Waterstones and WHSmith.
Freehold.
Lowestoft is a popular coastal town approximately 10 miles south of Great Yarmouth and 27 miles south-east of Norwich. The property is situated in a prominent position on London Road North, Lowestoft's prime pedestrianised retailing thoroughfare. The property benefits from being 300 metres from Lowestoft Railway Station. Nearby retailers include Marks & Spencer, Greggs, Boots the Chemist, Waterstones and WHSmith.
Freehold.
The property comprises a single storey, ground floor shop. The property benefits from vehicular access from the side and has been extensively refurbished recently.
VAT is applicable to this lot.
The property benefits from planning consent for two self contained flats in the air space at first and second floor levels - please see legal pack for further details - East Suffolk Council www.eastsuffolk.gov.uk/planning/
Six Week Completion
D. See legal pack at www.acuitus.co.uk.
The property comprises a single storey, ground floor shop. The property benefits from vehicular access from the side and has been extensively refurbished recently.
VAT is applicable to this lot.
The property benefits from planning consent for two self contained flats in the air space at first and second floor levels - please see legal pack for further details - East Suffolk Council www.eastsuffolk.gov.uk/planning/
Six Week Completion
D. See legal pack at www.acuitus.co.uk.
| Floor | Use | Floor Areas (Approx) |
Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Ground | Retail/Ancillary | 85.47 sq m |
(920 sq ft) |
CCHG LIMITED (t/a VPZ) (1) |
10 years from 05/06/2019 until 04/06/2029 on a full repairing and insuring lease (2) |
£26,000 | 05/06/2024 |
| Total |
85.47 sq m |
(920 sq ft) |
£26,000 | ||||
(1) For the year ending 31/12/2020, CCHG Limited reported a turnover of £25,911,415, pre-tax profits of £19,337 and total shareholders equity of £13,990,191 (Source: NorthRow 28/09/2021).
(2) The lease is subject to a tenant option to determine in June 2024.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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