Mixed use for sale
Property description & features
- Mixed-use investment opportunity currently generating £11,400pa.
- Ground floor commercial unit occupied by hairdresser and beautician, and upper floors occupied by long term residential tenant.
- Located in busy commercial area of Lowestoft, just a stone's throw from the main high street and train station.
- 7.6% yield at current asking price, with potential for future rent reviews.
- Asking price of £150,000 and available to view immediately.
Bevan Street East, Lowestoft. - Paul Hubbard Commercial is pleased to present this centrally located, mixed-use investment opportunity situated in Lowestoft, Suffolk.
Situated on Bevan Street East, just a stone's throw from Lowestoft train station and high street, this property comprises two tenanted units, a ground floor salon and 1st and 2nd floor maisonette.
The commercial tenant signed a 3 year lease agreement in December 2023, and is currently paying £450pcm (£5,400pa). The unit itself has a prominent frontage on a busy commercial road and has approximately 625sq ft of floorspace. The unit is well-decorated throughout, with a number of hairdressing stations, a separate treatment room at the rear of the property, as well as a WC and rear access via a small courtyard.
The residential tenant has been in situ for a number of years and currently pays £500pcm (£6,000pa), bringing the total income for the entire unit to £950pcm and £11,400pa. The maisonette is accessible from Clapham Road South and is set across two floors, with approximately 1100sq ft of floorspace. There are two large double bedrooms, a kitchen, bathroom and living room with large bay windows allowing lots of light into the property.
This property is an ideal investment opportunity which at its current asking price, represents a yield of 7.6%.
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