Planning consent to extend two additional floors above
Nearby retailers include Marks & Spencer, Greggs, Boots the Chemist, Waterstones and WHSmith
Popular East Suffolk seaside town
Lot 22
Auction 4th November 2021
Rent £26,000 per Annum Exclusive
Status Sold
Price £265,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles south of Great Yarmouth
27 miles south-east of Norwich
Roads
A12, A146, A11, M11
Rail
Lowestoft Railway Station
Air
Norwich International Airport
Situation
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.
Tenure
Freehold.
Location
Miles
10 miles south of Great Yarmouth
27 miles south-east of Norwich
Roads
A12, A146, A11, M11
Rail
Lowestoft Railway Station
Air
Norwich International Airport
Situation
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.
Tenure
Freehold.
Description
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
VAT is applicable to this lot.
Planning
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/
Completion Period
Six Week Completion
EPC
D. See legal pack at www.acuitus.co.uk.
Description
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
VAT is applicable to this lot.
Planning
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/
Completion Period
Six Week Completion
EPC
D. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
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.
