Property description

FOR SALE BY PUBLIC AUCTION on the 14th July at Great Yarmouth Racecourse at 12 noon. This Brown Field Site is located on the corner of Kendal Road and Morton Road in this popular residential district of Pakefield, Lowestoft. The area is high ground close to the cliffs, headland and coastal walks a short walk away.

The dilapidated former industrial complex is built in brick with mainly slate roofs and a smaller area of cement asbestos sheet. The buildings extend to around 6,300 sq ft (566m2) and are built to almost the whole site. There are large and small terraced properties on either side of Kendal Road whilst close by there are a range of modern semi-detached houses suggesting good new property prices.

Following demolition the site would be suitable for an estimated 6 to 7 modern town houses or 12 - 14 flats. There is no planning consent upon the site but great potential to achieve a suitable residential consent.

Site Area - 6300 sq ft (586m2)

Planning
There is no planning consent for residential, please contact Waveney District Council Planning Department for guidance on 01502 562111 main switchboard.

Tenure
Freehold

Services
We understand that mains electric, water and drainage are connected to the property. Prospective purchasers should make their own enquiries as to the cost of re-connection.

Business Rates
As it stands the 2010 Rateable Value is £7,400. The amount payable in the £ is 48.4p for 2016/17.Small business rate relief - You can get small business rate relief if you only use one property and your property's rateable value is less than £12,000. You'll get 100% relief until 31 March 2017 for properties with a rateable value of £6,000 or less. This means you won't pay business rates on properties with a rateable value of £6,000 or less. The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000.

Legal Costs
Both parties will be responsible for their own legal costs.

Solicitor
TBC

Price Information
Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Property Features :

• Residential Opportunity
• Site area 6300 sq ft (586m2)
• Potential for 6 - 7 town houses or 12 - 14 flats
• Popular residential area close to the beach