Lowestoft Court Apartments, 146 London Road South, Lowestoft, Suffolk NR33 0FE

Description

Substantial vacant building which has been converted into 17 flats. All have recently been refurbished, however it has been condemned as unsafe and a prohibition order issued. Iconic substantial building situated in a prominent position in the centre of Lowestoft. The building has recently been converted into 17 flats all fitted with modern kitchen and bathrooms. However the building has not met with regulations and has had a prohibition order issued and is therefore offered vacant. The property needs some major works structurally, to include electrics, drainage, sewerage, fire walls and doors to finalise this conversion and would ideally suit an investor looking to inject some funds for long term investment. Offered on behalf of receivers.

Location

Lowestoft Court Apartments, 146 London Road South, Lowestoft, Suffolk NR33 0FE. Located in the NR33 postcode district. Verify exact position, access, local demand and comparable evidence before bidding.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Buy-to-Let / Resale. Set the maximum bid only after reviewing condition, legal pack, finance, rents and sold evidence.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, decoration and any structural, roofing, damp, kitchen, bathroom, external or development works identified.

Rental & Market Context

HB rental/value figures are indicative appraisal estimates and should be checked against current local letting and sold evidence.

Sold within approximately 5 miles

Check recent Land Registry transactions and closely matched local comparables for property type, size, tenure and condition.

Potential BRRR Position

Refinance potential depends on the completed condition, lender valuation, tenure and rental stress testing; development/commercial assets require specialist lender criteria.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the full legal pack and special conditions

• Verify tenure, occupancy, planning and title restrictions

• Inspect condition and obtain contractor quotations

• Confirm finance and insurance availability

• Verify rents and recent sold comparables

• Allow for buyer premium, administration charges and disbursements

Recommendation

Proceed only where verified total project cost supports the intended buy-to-let / resale strategy with adequate contingency.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆