7 Queens Road, Lowestoft, Suffolk

Description

This former smoke house has been more recently used as a workshop and storage facility, however potential exists to redevelop the site for an alternative use subject to planning.

Accommodation

The building is currently a two storey building with enclosed yard area to the front. The building comprises various offices and storage rooms and is now in need of general improvement. Approximately 150 sq/m (1,560 sq/ft).

Location

Located in a mainly residential area within a short distance of the railway station and town centre.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are freehold terraced houses on Queens Road, whereas this property is a former smoke house/workshop and storage facility of approximately 150 sq m. They do not provide a reliable valuation without evidence of permitted use, planning potential, condition and commercial comparables. The stated alternative-use potential is subject to planning, so GDV cannot be supported from the evidence provided.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led commercial opportunity rather than a residential investment. Proceed only after confirming lawful use, planning feasibility, title and condition, and only at a price justified by independent commercial/planning advice.

Works Required

General improvement to the existing offices, storage rooms, workshop/storage areas and enclosed yard, subject to inspection. No specific defects, services requirements or conversion works are evidenced, so a quantified works allowance is not supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because there is no supported residential or commercial GDV, refurbishment budget, rent, permitted-use evidence or refinance valuation. The £600 buyer premium and £1,200 administration charge are known costs, with further possible legal-pack disbursements and other charges not quantified.

Buy-to-Let Analysis

BTL analysis cannot be established. The supplied rents relate to residential houses and are advertised asking rents, while this property is described as a warehouse/workshop and no commercial rent evidence or passing rent is provided. Residential use is only a potential alternative use subject to planning.

Flip Analysis

A flip surplus cannot be calculated. The residential sold comparables are not directly comparable to the warehouse, and no planning consent, conversion scheme, refurbishment cost or supported resale value is provided. The guide range is £20,000–£40,000 plus fees, but a purchase figure within that range has not been selected.

Investor Risks & Due Diligence

• Alternative use is expressly subject to planning.

• Residential sold comparables may not reflect the value of this warehouse/workshop property.

• The building is stated to need general improvement, but the extent and cost are unknown.

• No commercial rent or passing rent is provided, preventing yield analysis.

• Buyer premium and administration charge apply, with additional possible legal-pack disbursements and other charges not quantified.

• Condition, services, EPC, council tax/business-rates position and parking details are not provided.

Recommendation

Treat as a planning-led commercial opportunity rather than a residential investment. Proceed only after confirming lawful use, planning feasibility, title and condition, and only at a price justified by independent commercial/planning advice.

Strategy Rating

Analysis Confidence

Evidence includes a description, approximate floor area, tenure, guide range and fees, but lacks planning status, valuation evidence for the warehouse, commercial rent, condition detail, refurbishment costs and a defined exit use.