Terraced house for sale in 364 London Road South, Lowestoft, Suffolk NR33

For sale by auction on Wednesday, 12 Jun 2024 at 10:00

Venue: Livestream Auction

Impressive Victorian property situated south of the river in a desirable area of Lowestoft. The property which is vacant is divided into three substantial apartments and has been providing a yield of £58,800 pa

Formerly the ground floor was a doctor's surgery and registered for commercial use, with two apartments on the first and second floors. The current owners purchased in 2013 and with planning consent changed use to residential and converted the surgery into a further apartment (planning ref: DC/18/4470/cou with East Suffolk Council). The apartments have been producing a rental yield when fully let of £58,800 pa, calculated at £40/room x 6 persons x 7 days x 35 weeks. However there is scope for the building and rental yields could be increased. There is interest from companies working on the Sizewell C project and windfarms locally. There is parking for three cars via gated access to the rear of the property.

Ground Floor Apartment
Front porch, communal entrance hall, sitting room, two bedrooms, bathroom and kitchen

First Floor Apartment
Landing entrance to one bedroom apartment and entrance to three bedroom duplex apartment.

One bedroom apartment: Hall, bedroom, shower room, kitchen & sitting room.

Three bedroom apartment: Hall with stairs to second floor accommodation, kitchen, sitting room, bedroom with shower room

Duplex Apartment First & Second floor
Three bedroom apartment: First floor accommodation hall with stairs to second floor, kitchen and bedroom. Second floor accommodation landing, lounge. Two bedrooms and family bathroom.

Exterior
Walled and gated front garden leads to entrance this area is paved for easy

maintenance. Large gates open onto the rear garden which offers hardstanding for three vehicles, this could be turned into garden if required.

Council Tax Band

A

Viewings
Viewings are being arranged by appointment only and the next one is Monday 3rd and Thursday 6th June. Please contact the Norwich office to book an appointment.

EPC Rating: Please refer to Legal Pack

Additional Fees
Buyers Premium: £960 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.