This mixed-use freehold property spans over 3,000 sq ft and is located in a desirable harbourside area of Lowestoft, offering both commercial and residential opportunities. The layout includes a ground-floor commercial unit alongside a spacious three-bedroom flat and a one-bedroom flat, with additional space in the basement that includes three rooms and a toilet, plus a garage at the rear. Currently, one of the flats is generating rental income at £450 pcm while the rest remain vacant, providing a clear canvas for renovation.
The flexibility of this property makes it an attractive investment; potential buyers could operate a business from the ground floor while residing above, or alternatively modernise the entire building to maximise rental returns. Projections indicate that following refurbishment, the property could yield approximately £22,000 per year in rental income when fully let.
There’s significant potential to enhance value through various refurbishments—whether converting the basement into additional living space or reconfiguring the upper floors for larger accommodation. The prime harbourside location not only offers appealing views but also guarantees good visibility for any commercial operations. Furthermore, it's conveniently situated near the beach, town centre, and train station.
Overall, this property presents an appealing blend of lifestyle enhancement and investment potential in one of Suffolk's most promising coastal locales. It's strongly recommended to view this property to fully appreciate its substantial renovation prospects.
