Empty town centre store sells following auction
- Credit: Mick Howes
A former electrical store in a prime town centre location has been sold for an undisclosed amount.
The former Lowestoft Electrical shop, which closed its doors in 2018 after 65 years of trading, sold following Auction House East Anglia's online auction on December 8.
Having been marketed by Auction House East Anglia on a freehold tenure, and with an estimated guide price of £225,000 to £250,000 plus fees, it sold "after auction for an undisclosed amount," according to the auctioneers.
After a scheme was approved in May to convert the empty store at the site on London Road North in Lowestoft town centre into three commercial units and eight flats, the residential development went under the hammer earlier this month.
The property description from the auctioneers stated: “A substantial former retail premises with detailed consent to convert into three shops and eight flats.
"This former high street shop is now vacant but benefits from a sympathetic redevelopment scheme which allows for conversion into three lock up shops and eight self contained one and two bedroom flats."
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