Freehold Retail Investment
Freehold Retail Investment
Lowestoft is an important commercial centre and port in East Anglia. The property is situated 1 mile west of Lowestoft town centre, in a predominantly residential area on the south side of Oulton Road.
Freehold.
Lowestoft is an important commercial centre and port in East Anglia. The property is situated 1 mile west of Lowestoft town centre, in a predominantly residential area on the south side of Oulton Road.
Freehold.
The property comprises ground floor retail accommodation and two residential flats on the first floor accessed from the rear of the property which are let on long leases.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises ground floor retail accommodation and two residential flats on the first floor accessed from the rear of the property which are let on long leases.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground | Retail | 196.7 sq m | (2,117 sq ft) | EAST OF ENGLAND CO-OPERATIVE SOCIETY LIMITED |
15 years from 8th November 2017 until 2032 (2) |
£12,500 | 8/11/2022 and 8/11/2027 |
| First | 2 x Residential flats |
not measured |
INDIVIDUALS | 2 x individual leases for a term of 125 years from 27th July 2018 |
£200 | ||
| Total Commercial | 196.7 sq m |
(2,117 sq ft) | £12,700 | ||||
(1) For the year ending 28th January 2017, East of England Co-operative Society Limited reported a turnover of £347,709,000, pre-tax profits of £6,081,000 and a total net worth of £197,538,000 (Source: Experian Group 6/09/2018).
(2) The lease provides for a tenant option to determine the lease on 08/11/2024 and 08/11/2027 subject to 6 months’ prior notice.
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