Lowestoft: Empty former Cash Generator shop set for auction

The vacant former Cash Generator store in Lowestoft town centre has come up for auction once more.

The former four-floor shop at 45 London Road North in Lowestoft had failed to sell at an online property auction in March last year, having been given a guide price of £175,000 plus fees.

After being marketed by Auction House East Anglia, the store was later sold post auction for an undisclosed amount, according to the auctioneers.

In July agents RJ Planning Dynamics Ltd, on behalf of the applicant Zubar Raja, lodged change of use plans with East Suffolk Council to turn the vacant upper floor commercial storage space into "two studio flats and a two bedroom apartment" with the ground floor "to be retained as retail."

This was subsequently approved under delegated powers in October.

The vacant former Cash Generator store. Picture: Auction House East Anglia (Image: Auction House East Anglia)

Now, with the building having been vacant a number of years, it is set to be auctioned off once more.

It is to be sold at an online property auction on Wednesday, March 22.

Marketed by Auction House East Anglia once more, 45 London Road North in Lowestoft is being sold with a guide price of £200,000 to £240,000 plus fees, on a freehold tenure.

The description for the "high street retail property" says: "A substantial town centre freehold property with extensive accommodation over four floors.

"Planning approved for three flats and retail shop.

"This high profile and impressive shop is at the heart of Lowestoft town centre, next to Lloyds Bank and other major high street retailers.

"The property which extends to approximately 220 sq/m (2,300 sq/ft) has three upper floors with planning permission granted for conversion into three residential units or could offer storage.

"This exciting redevelopment opportunity offers excellent investment possibilities being positioned in a highly convenient location."