Summary - Flat 2, 108 High Street, LOWESTOFT NR32 1XW
4 bed 1 bath Mixed Use
**Standout Features:**
- Mixed-use property with a public house and two extensively refurbished two-bedroom flats.
- Fully leased public house with an established tenant until 12/11/2028, generating £18,000 annually.
- Two flats bringing in £1,200 per month with three years remaining on their leases.
- Major upgrades including rewire, plumbing, fire alarms, and roof repairs totaling £125,000.
- Basement offers potential conversion to a third flat, adding substantial value.
- Prime High Street location in Lowestoft, with strong community amenities nearby.
**Summary:**
Presenting an excellent investment opportunity, the Carousel Pub and Flats is a historic property located in a prominent position on the bustling High Street of Lowestoft. This mixed-use space features a well-established public house that boasts a long-term lease until November 2028, generating a steady income, as well as two recently refurbished flats that provide additional rental income.
The substantial building has undergone significant renovations valued at £125,000, enhancing its market appeal and ensuring safety and functionality. Investors will appreciate the potential for further growth with existing planning permission in place for converting the basement into an additional flat, catering to the growing rental demand in the area.
While the property is in solid condition, buyers should note that the structure is a pre-1900 build and may require ongoing maintenance due to its age. Additionally, the relatively short remaining lease for the flats could pose challenges for mortgage financing. Nevertheless, with its location, guaranteed income, and renovation potential, this property is poised to attract discerning investors. Act fast—this opportunity won't last long!
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