113 London Road North Lowestoft Suffolk NR32 1LX

113 London Road North
Lowestoft
Suffolk
NR32 1LX

Freehold Retail Investment

Entirely let to tenant trading as O2
Lease expires April 2029 (no breaks)
2022 break option not exercised
Prominent corner position close to Marks & Spencer, Tesco Express, Iceland, Peacocks, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct

Lot
30
Auction
18th May 2023
Rent
£28,500 per Annum Exclusive
Status
Sold
Price
£270,000
Auction Venue
Live Streamed Auction

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Freehold Retail Investment

Entirely let to tenant trading as O2
Lease expires April 2029 (no breaks)
2022 break option not exercised
Prominent corner position close to Marks & Spencer, Tesco Express, Iceland, Peacocks, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct

Lot 30
Auction 18th May 2023
Rent £28,500 per Annum Exclusive
Status Sold
Price £270,000
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: A11, A12, A146, M11
Rail: Lowestoft Railway Station
Air: Norwich International Airport

Situation

The property is prominently situated on London Road North, Lowestoft's prime pedestrianised retailing thoroughfare. The property benefits from being 300 metres from Lowestoft Railway Station. Nearby occupiers include Marks & Spencer, Tesco Express, Iceland, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct.

Tenure

Freehold.

Location

Miles: 10 miles south of Great Yarmouth, 27 miles south-east of Norwich
Roads: A11, A12, A146, M11
Rail: Lowestoft Railway Station
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Description

The property comprises a shop arranged on the ground, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review
Ground First Second	Retail/Ancillary Ancillary Ancillary	112.37 91.90 22.00	(1,210) (989) (237)	AVERTEC LIMITED (2) (t/a O2)	10 years from 17/04/2019 on a full repairing and insuring lease	£28,500	17/04/2024
Total		226.27	(2,436)			£28,500

(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) Avertec Limited are an O2 franchisee operating in the UK and established in 2007 (www.avertec.co.uk).

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.