69 London Road North
Lowestoft
Suffolk
NR32 1LS

Freehold Retail Investment

  • Let to CCHG Limited
  • Lease expires in 2029 (subject to option)
  • Planning consent to extend two additional floors above
  • Nearby retailers include Marks & Spencer, Greggs, Boots the Chemist, Waterstones and WHSmith
  • Popular East Suffolk seaside town
  • Lot
    22
  • Auction
    04/Nov/2021
  • Rent
    £26,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £265,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 69 London Road North, Lowestoft, Suffolk, NR32 1LS
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

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

Lowestoft is a popular coastal town approximately 10 miles south of Great Yarmouth and 27 miles south-east of Norwich. The property is situated in a prominent position on London Road North, Lowestoft's prime pedestrianised retailing thoroughfare. The property benefits from being 300 metres from Lowestoft Railway Station. Nearby retailers include Marks & Spencer, Greggs, Boots the Chemist, Waterstones and WHSmith.

Tenure

Freehold.

Description

The property comprises a single storey, ground floor shop. The property benefits from vehicular access from the side and has been extensively refurbished recently.

VAT

VAT is applicable to this lot.

Planning

The property benefits from planning consent for two self contained flats in the air space at first and second floor levels - please see legal pack for further details - East Suffolk Council www.eastsuffolk.gov.uk/planning/

Completion Period

Six Week Completion

EPC

D. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundRetail/Ancillary
85.47 sq m
(920 sq ft)
CCHG LIMITED
(t/a VPZ) (1)
10 years from
05/06/2019 until
04/06/2029 on a full
repairing and insuring
lease (2)
£26,00005/06/2024
Total
85.47 sq m
(920 sq ft)
  £26,000 

(1) For the year ending 31/12/2020, CCHG Limited reported a turnover of £25,911,415, pre-tax profits of £19,337 and total shareholders equity of £13,990,191 (Source: NorthRow 28/09/2021).
(2) The lease is subject to a tenant option to determine in June 2024.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    877 KB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    854 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Seller's Solicitors
Druces LLP Salisbury House, London Wall
London
EC2M 5PS
Karen Chapman 0207 216 5591k.chapman@druces.com

Useful Links

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