113 London Road North, Lowestoft, Suffolk, NR32

Investment Consideration:
Vacant possession
VAT is applicable to this property
Comprises vacant self-contained ancillary accommodation at first and second floor
Planning approved for conversion of upper floors into 5-bedroom student HMO
Includes retail shop at ground floor, which has been sold-off on long leasehold
Located in the heart of the town centre with occupiers nearby including Marks & Spencer, Tesco Express, Iceland, B&M, Superdrug, Boots, Starbucks, Greggs, Sports Direct and more.

Property Description:
Comprises three-storey corner building arranged as a ground floor shop (sold-off) and self-contained ancillary accommodation at first and second floor accessed from the rear. The property benefits from parking for 2 cars at rear and provides the following accommodation and dimensions:
Ground Floor Shop: Sold-off
First Floor: 120 sq m (1,291 sq ft)
3 Rooms, Bathroom
Second Floor: 22 sq m (237 sq ft)
2 Rooms

Development Opportunity: DC/24/3905/FUL
Planning approved in January 2025 for conversion of first and second floor to a 5-bedroom student HMO. The planning has been designed as per existing layout without the need for any structural amendments, providing the following accommodation and dimensions:
Approved First Floor:
Bedroom 1 - 12.36 m (133 sq ft)
Bedroom 2 - 10.30 sq m (111 sq ft)
Bedroom 3 - 13.24 sq m (143 sq ft)
Bedroom 4 - 14.30 sq m (154 sq ft)
Communal kitchen/dining - 30.34 sq m (327 sq ft)
2 Communal bathrooms - 15.24 sq m (164 sq ft)
Approved Second Floor:
Bedroom 5 - 17.00 sq m (183 sq ft)
En-Suite - 3.17 sq m (34 sq ft)
Total approved GIA: 115.95 sq m (1,249 sq ft)

For more information, please refer to East Suffolk Planning portal:

Tenancy:
The ground floor shop has been sold-off on long leasehold for a term of 999 years from 2024 at a ground rent of peppercorn.

Location:
Lowestoft is a coastal town and civil parish in the East Suffolk district of Suffolk, England. As the most easterly UK settlement, it is 110 miles north-east of London, 38 miles north-east of Ipswich and 22 miles south-east of Norwich, and the main town in its district. The property is situated 300 metres from Lowestoft Railway Station with nearby occupiers including Marks & Spencer, Tesco Express, Iceland, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct.