Retail premises for sale in 116 Bevan Street East, Lowestoft, Suffolk NR32

For sale by auction on Wednesday, 01 May 2024 at 11:00

Venue: Livestream Auction

A Freehold shop with deceptively large accommodation located in a prime retail area, with rear access to private enclosed parking.

The ground floor shop has over 1500 sq/ft of space including rear garaging and parking. There is a dry basement and numerous storage areas. The shop has been a pet shop for many years but is to be sold with vacant possession. This high footfall location could be used for a variety of alternative uses or developments (subject to planning)

The property is being sold freehold subject to the sale of the first floor flat which has been sold on a long lease with a ground rent income of £150 pa.

Ground Floor
Main shop and retail areas, storage rooms, kitchen/staff area, w.c.

First Floor
The first floor flat has been sold on a 999 year lease subject to a ground rent income of £150 pa (not inspected)

Business Rates
Current rateable value from 1 April 2023 to present: £7,000

Viewings
Open viewings are being arranged in conjunction with the vendor. To book an appointment please call the Norwich office.

EPC Rating: Shop - C / Flat - E

Additional Fees
Buyers Premium: £420 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.