46 Park Road, Lowestoft, Suffolk

Description

Former public house with residential accommodation and development potential. Located within an established, predominantly residential area, this substantial former public house has now ceased trading and offers an interesting opportunity for investors, developers and owner occupiers. The property could offer scope for reopening as licensed premises or alternative commercial/community uses. Alternatively, given its residential surroundings and the size of the existing building and site, there may be potential for conversion or comprehensive redevelopment to provide multiple residential units, subject to planning approval.

Accommodation

Extensive ground floor accommodation including former public bar and customer areas, commercial kitchen facilities and customer toilets. The first floor provides a self-contained manager's flat with three-bedroom accommodation.

Location

Located within an established, predominantly residential area of Lowestoft.

Tenure / Property Information

Investment Analysis

The £150,000–£170,000 guide is not directly validated by the supplied comparables because those are terraced-house sales, whereas this is a former public house with extensive commercial accommodation, a three-bedroom manager’s flat and a customer car park. The evidence supports development potential only as a possibility subject to planning approval; no floor areas, planning information, valuation or commercial trading evidence is supplied.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led commercial/mixed-use opportunity rather than an immediately underwritable BTL or flip. Before bidding, obtain legal, planning, measured-survey, building-condition and change-of-use advice, and confirm all auction disbursements.

Works Required

No quantified works can be supported from the evidence. Potential strategies are reopening the licensed premises, adapting the building for an alternative commercial or community use, or seeking planning consent for residential conversion or redevelopment. Any required construction, compliance, fire-safety, services, kitchen, licensing or accessibility works require inspection and professional costing.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be quantified because there is no supported GDV, refurbishment budget, planning outcome, finance cost or confirmed lettable configuration. The 75% refinance calculation is therefore unavailable. The known buyer premium and admin charge total £2,400, while possible disbursements and other legal charges are unspecified.

Buy-to-Let Analysis

The supplied three-bedroom Lowestoft asking rents are £862–£1,250 pcm, equivalent to £10,344–£15,000 annually, but they are not achieved rents and do not establish that this former pub can be let as a compliant standalone dwelling. A reliable BTL yield cannot therefore be established. Conversion, layout, services and planning requirements remain unverified.

Flip Analysis

A flip appraisal cannot be completed reliably. The supplied comparables are terraced residential sales ranging from £105,000 to £283,000 and are not directly comparable to this former public house. No supported post-conversion GDV, works budget, planning consent or selling allowance is available.

Investor Risks & Due Diligence

• Residential conversion or redevelopment is only potential and is subject to planning approval.

• The residential comparables are terraced houses and may not represent the value of this former public house.

• The rental evidence comprises advertised asking rents rather than achieved rents and may not apply to the existing property.

• The cost and extent of refurbishment, compliance and conversion works are unknown.

• Reopening as licensed premises would require confirmation of operational viability and any relevant licensing or regulatory requirements.

• Legal-pack disbursements and other possible purchaser charges are unspecified.

• The property has ceased trading, so no passing commercial income is evidenced.

Recommendation

Treat as a planning-led commercial/mixed-use opportunity rather than an immediately underwritable BTL or flip. Before bidding, obtain legal, planning, measured-survey, building-condition and change-of-use advice, and confirm all auction disbursements.

Strategy Rating

Analysis Confidence

The guide, tenure, existing use, accommodation description, local asking-rent range and unrelated residential comparables are supplied, but there is no floor area, condition survey, planning evidence, commercial value, conversion scheme, works cost or confirmed rental configuration.