Banksy artwork increases price of empty Lowestoft store by £200,000
The Banksy artwork on the corner of London Road North and Regent Road in Lowestoft. - Credit: Mick Howes
An empty town centre store, which features a mural created by the world's most famous street artist Banksy, has been put back on the market - with a much higher new price tag.
The former Lowestoft Electrical building was withdrawn from sale last month after Banksy confirmed on August 13 that he was behind the artworks in Suffolk and Norfolk as part of the Great British Spraycation.
The building on the corner of London Road North and Regent Road in Lowestoft had gone on sale for £300,000, but was withdrawn on August 13 so the owner could consider his options.
The former Lowestoft Electrical store the corner of London Road North and Regent Road in Lowestoft. - Credit: Mick Howes
Now it is the 'property of the week' with Steel & Co Commercial Property Services, based on Lowestoft High Street.
Estate agent Danny Steel said the London-based owner had been "looking at his options."
Mr Steel said: "I have just been instructed to put 127 London Road North in Lowestoft, with the Banksy, back on the market for £500,000.
The Banksy artwork on the corner of London Road North and Regent Road in Lowestoft. - Credit: Mick Howes
"That's £200,000 more than before and it is a unique opportunity to own your very own Banksy."
The artwork, which is displayed on the south facing wall of a substantial retail unit, depicts a child with a crowbar next to a sandcastle and lifted paving slab.
The Banksy artwork on the corner of London Road North and Regent Road in Lowestoft. - Credit: Mick Howes
A protective screen was installed on the artwork last month, with the broken paving slab having now been replaced and the sandcastle removed.
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The former Lowestoft Electrical shop, which closed its doors in 2018 after 65 years of trading, has been sold twice before.
The former Lowestoft Electrical store the corner of London Road North and Regent Road in Lowestoft. - Credit: Mick Howes
A scheme to convert it into three ground floor retail units and eight flats was approved by East Suffolk Council in May 2020.
Danny Steel. - Credit: Nick Butcher
Mr Steel said: "We are offering an extremely unique opportunity situated in the heart of Lowestoft town centre.
"This commercial property had the extraordinary chance to be chosen by the famous artist Banksy to display part of his 'Great British Spraycation' series that appeared throughout the east coast in August."
The Banksy artwork on the corner of London Road North and Regent Road in Lowestoft. - Credit: Mick Howes
The property description adds: "The premises are currently offered vacant and could be a great development project for the right buyer.
"With planning consent to be converted into three shops on the ground floor and eight flats to the first and second floor, this could be an amazing investment that already has the public flocking to see the artwork."
