Property for sale

Carlton Road, Lowestoft, Suffolk NR33

Mixed-use freehold investment opportunity comprising a vacant ground floor retail unit and a separate two-bedroom flat producing £700 pcm, offered with excellent asset management potential.

4 Carlton Road, Kirkley, Lowestoft.

Paul Hubbard Commercial are delighted to bring to market this attractive mixed-use freehold investment opportunity, occupying a prominent position on Carlton Road in South Lowestoft.

The property comprises a vacant ground floor retail unit with a self-contained two-bedroom flat above, together with a useful rear yard, storage and parking area benefitting from separate rear access. The extent of the overall plot provides an additional feature rarely available with properties of this type and offers practical space for occupiers, deliveries, storage and off-road parking.

The ground floor extends to approximately 538 sq ft (50 sq m) and comprises a bright front retail area, rear kitchen/storage space, lean-to and WC. Whilst currently vacant and requiring a programme of refurbishment, the unit offers an excellent opportunity to improve the accommodation and secure a new commercial tenant. The commercial accommodation is further enhanced by the rear external areas and access, which could prove particularly attractive to occupiers requiring additional storage, servicing or parking facilities. The property has an EPC rating of C and a rateable value of £4,300.

Accessed independently from the front, the first floor provides a well-proportioned two-bedroom flat extending to approximately 474 sq ft. The accommodation comprises an open-plan living area with fitted kitchen, two bedrooms, shower room and useful storage. The flat is currently let on a periodic tenancy at £700 per calendar month (£8,400 per annum), providing an immediate income stream. The flat has an EPC rating of D.

Of particular note is the overall extent of the site, which incorporates additional buildings and external areas to the rear, together with access from the adjoining road. This provides useful ancillary storage and parking and adds further flexibility to the property, both for an investor and any future commercial occupier.

Offered for sale with the benefit of residential income already in place and vacant possession of the commercial element, the property presents an excellent opportunity for investors looking to enhance both the income and capital value of the asset.

Following refurbishment, the commercial unit is considered capable of achieving a rent in the region of £500–£550 pcm, allowing a purchaser to increase the overall rental income while benefiting from the additional rear accommodation, parking and access available within the wider plot.