LOWESTOFT
Breakdown
£480k
Purchase price
£1.36m
Development costs
£1.84m
Total project costs
£3.62m
GDV
Project
Planning permission has been granted for the conversion of part of the ground floor and the upper floors into 23 Apartments. The tenure mix is 6 x Studios, 15 x 1 Bedroom and 2 x 2 Bedroom apartments.
Suffolk
Lowestoft
Planning permission has been granted for the conversion of part of the ground floor and the upper floors into 23 Apartments. The tenure mix is 6 x Studios, 15 x 1 Bedroom and 2 x 2 Bedroom apartments. With its Town Centre location, the development is well placed to benefit from a great many shops and stores as well as a large number of pubs, restaurants and bars, along with all the leisure facilities only a coastal town can provide. This project is another opportunity for us to breathe new life into an otherwise redundant commercial building by repurposing the upper floors to provide much-needed residential accommodation.
Project Gallery
Location
Lowestoft is a coastal town and is the 2nd largest town behind Ipswich in the county of Suffolk. Also famed for being home to Ness Point, Britain’s most easterly point of the British Isles, it is the first place to see the Sunrise in the UK. Lowestoft is fast becoming a regional centre of the Renewable Energy Industry through having the world’s largest Wind Farm located 14 miles off the coast in the North Sea. Among its many attractions, Lowestoft boasts 2 Piers, Africa Alive Zoological Reserve, and the award Hills Theme Park. As well as being home to the Royal Philharmonic Orchestra, Lowestoft is also the birthplace of the English composer, conductor and pianist Benjamin Britten.
"Overall, sold prices in Lowestoft over the last year were 11% up on the previous year and 20% up on the 2020 peak of £210,937." Source: Rightmove
