High street store for auction as 'residential development'
- Credit: Mick Howes
A former electrical store in a prime town centre location is set to be auctioned off next month.
The former Lowestoft Electrical shop, which closed its doors in 2018 after 65 years of trading, looks set for a new lease of life.
A new vision was proposed earlier this year as a scheme was lodged to convert the empty store at the site on London Road North in Lowestoft town centre into three commercial units and eight flats.
An application submitted to East Suffolk Council, which centred around the “conversion of retail unit to three smaller ground floor retail units and eight flats” was approved by the council under delegated powers in May.
In recommending approval of the scheme, the council's delegated case officer said: “There are a high proportion of empty shops in London Road North, and smaller units with residential premises above is one way of tackling the issues and is reflective of the origins of retail units where there was traditional living above the shop.”
You may also want to watch:
Now a new residential development is set to go under the hammer at an online auction on December 8.
Marketed by Auction House East Anglia, it is being sold with a guide price of £225,000 to £250,000 (plus fees) on a freehold tenure.
- 1 People 'losing patience' with neighbours who flout Covid rules, police say
- 2 Anger from council over felled silver jubilee trees
- 3 Tributes to much-loved Laura, 28, after Covid death
- 4 'No black hole' - MP reveals two new vaccine centres in towns
- 5 Christmas trees light up care farm’s day as it helps vulnerable through dark times
- 6 Rapid Covid test sites planned for Bury St Edmunds and Lowestoft
- 7 Woman in her 20s among 31 Covid patients to die in five days at hospital
- 8 'Manipulative and scheming' man jailed for child sex offences
- 9 Hundreds receive coronavirus vaccine at pharmacy
- 10 Council vows to find answers to flooding issue
The property description says: “A substantial former retail premises with detailed consent to convert into three shops and eight flats.
"This former high street shop is now vacant but benefits from a sympathetic redevelopment scheme which allows for conversion into three lock up shops and eight self contained one and two bedroom flats.
"The development would be ideal for the experienced builder or investor looking for a high yielding investment."
With planning permission granted in May for three shops for small businesses and eight flats, according to the auctioneers the proposed accommodation is listed as a ground floor consisting of three lock up shops, one bedroom flat, a lobby and access to cellar and upper floors; a first floor consisting of two, one bedroom flats and a two bedroom flat with four, one bedroom flats on the second floor.