South Lowestoft Methodist Church, London Road South, Lowestoft, Suffolk NR33 0DY

Description

Substantial detached place of worship extending to around 484 sq/m with potential for off road parking This prominent freehold detached building is now surplus to the requirements of the Methodist Mission in Lowestoft. It is a landmark mid twentieth century building and offers a unique opportunity for its current use or other, subject to planning consent for change of use. The building extends to around 484 sq/m and occupies a site of around 0.24 acres (stms). The building is one of the towns most recognised and occupies a prominent corner site with Carlton Road and backing onto College Road, near the promenade and beach. It lies within a conservation area, however is not listed. An exciting opportunity to give this building a new lease of life.

Location

South Lowestoft Methodist Church, London Road South, Lowestoft, Suffolk NR33 0DY. 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: Development. 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 development strategy with adequate contingency.

Strategy Rating

Development: ★★★★☆ | Resale: ★★★★☆ | Buy-to-Let: ★★☆☆☆