For Sale By Auction | 11:00, 24 July 2024 | Lot 120

Carousel Pub and Flats 1 & 2, 108 High Street, Lowestoft, Suffolk NR32 1XW

*Guide | £260,000 - £280,000 (plus fees)

  • Mixed Use
  • Tenure: Freehold

Call the team on 01603 505 100 for more information

Auction Date

Wed 24/07/2024

Auction Time

11:00

Auction Venue

Livestream Auction

The Carousel public house with two recently refurbished two bedroom flats above. Currently let producing £32,400 pa

The Carousel public house is situated in a prominent position on the corner of the High Street in the Suffolk coastal town of Lowestoft. Formerly known as The Wheatsheaf this popular pub occupies a stunning historic building. This substantial building is located in a conservation area and has been funded by grants for major works on the exterior of the building. The owner has also in the past two years made major improvements to the interior of the building costing £125,000 to include rewiring, new fire alarms, plumbing renewed and the roof has had repairs. Two generous flats have been completely refurbished and are currently yielding £1,200 pcm on a fixed term lease agreement with 3 years remaining and have self-contained electric supplies. The pub is yielding £1,500 pcm and has a lease of until 12/11/2028 which commenced recently. This is a great ready made investment property. Viewings can be arranged. NB: The basement does have planning permission for conversion to a further flat.

Tenure

Freehold

Pub

Porch, bar area, pool table area, seating area with outside terrace, stairs to male and female toilets, meter room, cellar, function room with PP to be converted to a further flat if required.

Flat 1

Accessed via a communal hall with stairs to entrance. Hall, sitting room, two bedrooms, kitchen and shower room

Flat 2

Accessed via a communal hall with stairs to entrance. Hall, sitting room, two bedrooms, kitchen and shower room

Exterior

Parking to the rear

Council Tax Band

A, A

Business Rates

Current rateable value £4,600

Energy Efficiency Rating (EPC)

Current Rating Flats = E, E, Pub = D

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

East Suffolk Council

Solicitors

HKB Wiltshires (Lowestoft), Ref: Philip Tuttle, Tel: 01502 582338

Important Notice to Prospective Buyers:

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

Additional Fees

Buyer's Premium - £960 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.