Fixed price
£250,000
(£193.65/sq. ft)
Retail premises for saleLondon Road North, Lowestoft NR32
1,291 sq. ft
About this property
Comprises double fronted ground floor shop with rear access
Located in the heart of the town centre
Occupiers nearby including Marks & Spencer, Tesco Express, Iceland and more
Investment Consideration:
Gross Initial Yield: 8.00%
Rental Income: £20,000 p.a.
VAT is applicable to this property
Comprises double fronted ground floor shop with rear access
Located in the heart of the town centre with occupiers nearby including Marks & Spencer, Tesco Express, Iceland, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct
Property Description:
Comprises double fronted retail premises t/a Mobile Phone Shop. The property benefits from rear access and provides the following accommodation and dimensions:
Ground Floor: 120 sq m (1,291 sq ft)
Open plan retail, Office, Kitchenette, WC
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenancy:
The property is at present let to T&S Mobile Repair Ltd (with personal guarantee) for a term of 10 Years from 27th August 2024 at a current rent of £20,000 p.a. And the lease contains full repairing and insuring covenants. Rent review (rpi linked) on 27.08.29. Tenant option to determine on 27.08.29 with minimum 6 months notice. Lease within Landlord & Tenant Act 1954. Deposit held of £5,000. Tenant pays reduced rent of £18,000 p.a. For the first year. The vendor will top-up rent so the buyer receives the equivalent to £20,000 p.a. From completion.
Location:
Lowestoft is a coastal town and civil parish in the East Suffolk district of Suffolk, situated 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.
Gross Initial Yield: 8.00%
Rental Income: £20,000 p.a.
VAT is applicable to this property
Comprises double fronted ground floor shop with rear access
Located in the heart of the town centre with occupiers nearby including Marks & Spencer, Tesco Express, Iceland, B&M, Superdrug, Boots the Chemist, Starbucks, Greggs and Sports Direct
Property Description:
Comprises double fronted retail premises t/a Mobile Phone Shop. The property benefits from rear access and provides the following accommodation and dimensions:
Ground Floor: 120 sq m (1,291 sq ft)
Open plan retail, Office, Kitchenette, WC
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Tenancy:
The property is at present let to T&S Mobile Repair Ltd (with personal guarantee) for a term of 10 Years from 27th August 2024 at a current rent of £20,000 p.a. And the lease contains full repairing and insuring covenants. Rent review (rpi linked) on 27.08.29. Tenant option to determine on 27.08.29 with minimum 6 months notice. Lease within Landlord & Tenant Act 1954. Deposit held of £5,000. Tenant pays reduced rent of £18,000 p.a. For the first year. The vendor will top-up rent so the buyer receives the equivalent to £20,000 p.a. From completion.
Location:
Lowestoft is a coastal town and civil parish in the East Suffolk district of Suffolk, situated 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.
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£1,250 per month
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