134 London Road North
Lowestoft
Suffolk
NR32 1HB
London Road South, Lowestoft
Auction Guide £225,000
3 Bedroom Business
- GREAT INVESTMENT OPPORTUNITY
- EXCELLENT RETAIL AREA
- VERY SPACIOUS 3 BEDROOM APARTMENT
- ALL MODERNISED WITH NOTHING TO DO
- CLOSE TO BEACH
- THRIVING RETAIL AREA
BEING SOLD VIA SECURE SALE ONLINE BIDDING. TERMS AND CONDITIONS APPLY. STARTING BID £225,000 Located on London Road South in Lowestoft, only a few hundred yards to the beach, this fantastic shop with a substantial three-bedroom apartment above offers a unique opportunity for those seeking a long term investment. Situated in what is considered a vibrant shopping area, this property is perfect for those wishing to have excellent living accommodation, together with a useful income produced from the ground floor retail shop. Please also note the apartment could also be let to produce further income.
The current owner has let the ground floor shop on a 5 year lease from January 2025, at £500 per month. Please see the note 'Business Lease' within the main details.https://login2.vebraalto.com/#properties/16920050/property/adsummary
The condition of both the shop & apartment are superb where nothing needs doing.
Please note the access to the apartment is within the front part of the shop premises.
FRONT SHOP/SALON 1
A large open plan shop/salon area with excellent display windows, ample lighting and power, radiator
door to;
REAR SHOP/SALON 2
Substantial internal retail area with ample lighting, radiator.
Door to;
KITCHENETTE
fitted in a range of modern units including hot & cold sink, rear access door.
W.C
low level wc, wash basin.
PRIVATE APARTMENT ENTRANCE
Acces from the front shop area, entrance hall with stairs to first floor and half landing.
RECEPTION ROOM
with a feature cast iron fireplace, radiator, laminate flooring, built-in store cupboard, large opening to:-
SUPERB OPEN PLAN KITCHEN/DINER/FAMILY ROOM
kitchen area fitted in a range of shaker style units in a soft cream finish, one and a half bowl sink unit, 4 burner ceramic hob, stainless steel splashback and filter hood over, double oven/grill, worktop and recess having plumbing for automatic washing machine and dishwasher, space for American style fridge freezer, 3 radiators, gas combination boiler, double aspect windows with upvc double glazing.
MODERN FITTED SHOWER ROOM
shower cubicle with a Triton instant shower unit, low level wc, pedestal washbasin, part shower boarding, radiator, extractor fan.
MASTER BEDROOM
double aspect windows, radiator, built-in wardrobe cupboard.
STAIRS TO 2ND FLOOR AND LANDING
BEDROOM 2
radiator, dormer window.
BEDROOM 3
radiator, dormer window.
FREEHOLD
The entire building will be sold as one unit.
MATERIAL INFO
This property has:
Mains Gas, Electric, water & sewerage
Flood Risk Info: Very low
* Broadband: Fixed wireless
* Mobile: good reception
* Disclaimer: This information is based on predictions provided by Ofcom. Applicants should carry out their own enquiries to satisfy themselves that the coverage is adequate for their requirements.
BUSINESS LEASE
The freeholder/landlord has agreed a new lease the ground floor retail premises (also known as 'Flutterbye Lashes') on the following terms:
1. Term of Lease agreed 13th January 2025 and ends 13th January 2030
2. Tenant will pay £500.00 per month payable on the 1st and every month of the term.
3. There is no rent review. The landlord & tenant will review the rent after the initial 5 year period.
4. Utilities. The Landlord is responsible for the payment of the following utilities and other charges in relation to the premises: electricity, natural gas, water, sewer and internet.
5. Landlord will be responsible for buildings insurance only (not contents of tenant).
AUCTIONEERS ADDITIONAL COMMENTS
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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