Part vacant billboards site could be turned into homes
PUBLISHED: 11:06 10 July 2019 | UPDATED: 11:06 10 July 2019
A piece of land featuring advertising billboards could be turned into new homes.
Owned by advertising agency JC Decaux, the land on London Road South, Lowestoft - at the junction with Cleveland Road - still has the billboards as the former advertising site is due to be auctioned off next week.
The freehold part vacant site at London Road South is being marketed by national property auctioneers Strettons.
It is due to be sold at auction in London on Tuesday, July 16 and has a guide price of £45,000 to £50,000, with the auctioneers describing it as a "former advertising site offered part vacant with development potential."
According to the site area description from the auctioneers, ahead of the sale at Dunston Hall Hotel on the outskirts of Norwich next week, it states: "The 2,400sq ft (223sq m) site is offered part vacant with development potential - subject to necessary consents.
You may also want to watch:
"Planning was granted in 1999, now lapsed, for three new flats with car parking."
Director of Stretton's auctioneers, Philip Waterfield, said: "The plots are the latest in a series of land investment sites we have sold on behalf of JC Decaux, the majority of which have performed well in previous auctions.
"Given their use as billboard locations, many of the sites sit in prominent positions so could suit a range of uses, from keeping them as advertising locations, to developing them into houses, subject to the necessary consents."
The Strettons auction features a series of land investments located across the country - including a billboard site in Norwich - being sold on behalf of advertising agency JC Decaux, with prices ranging from £9,000 to £150,000.
Currently used as locations for billboards, many of the sites have development potential, subject to all necessary consents.
The Lowestoft billboards site features as lot 49 in the auction, which takes place at noon on Tuesday, July 16 in Holborn at the De Vere Grand Connaught Rooms in London,
Strettons' Director Philip Waterfield added: "The sale features arguably our most diverse range of properties for some time so I am looking forward to seeing how they perform on the day. There are properties that will make ideal additions to an investor's portfolio and those which will appeal to private buyers and developers who can spot potential."