South Lowestoft Methodist Church, London Road South, Lowestoft, Suffolk

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.

Accommodation

Entrance; Church - 9.72m x 17.87m (two storey eaves); Reception Hall - 7.45m x 8.00m; Meeting Room - 4.9m x 6.8m; Three toilet areas; Office - 3.5m x 2.2m; Oasis - 5.091m x 3.6m.

Location

Lowestoft is England's most Easterly town and has an active port with marinas and commercial users. The property occupies a prominent corner site with Carlton Road and backs onto College Road, near the promenade and beach. East Suffolk Council is the administration area.

Tenure / Property Information

Investment Analysis

The supplied £242,000–£305,000 Land Registry sales are terraced and semi-detached houses, so they are not sufficiently comparable to this 484 sq/m place of worship. No supported GDV can be established. The auction guide is £160,000–£180,000 plus known £2,160 buyer and administration charges, with further possible legal-pack disbursements.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment basis without reviewing the legal pack, obtaining planning advice and commissioning specialist valuation, condition and conversion-cost assessments.

Works Required

Any works are unsupported by the evidence. The opportunity may require planning consent for change of use; potential off-road parking is described, but no construction or refurbishment scope is provided.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be assessed without a supported post-refurbishment GDV, refurbishment budget, rent, or evidence that residential conversion is achievable.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence, passing rent or residential use is supplied. Residential conversion would also require planning consent.

Flip Analysis

A flip appraisal cannot be supported because the available comparables are materially different property types and no planning outcome, works budget or relevant resale evidence is provided.

Investor Risks & Due Diligence

• Change of use requires planning consent.

• The property is within a conservation area, which may constrain alterations.

• Available sold comparables are residential houses and are not sufficiently comparable.

• Condition, refurbishment costs, EPC and heating information are not supplied.

• Further legal-pack disbursements and other purchaser charges may apply.

Recommendation

Do not bid on an investment basis without reviewing the legal pack, obtaining planning advice and commissioning specialist valuation, condition and conversion-cost assessments.

Strategy Rating

Analysis Confidence

The evidence confirms the freehold building, size, location, guide and stated planning context, but provides no relevant valuation comparables, rent, condition, EPC, heating, planning approval or works budget.