This freehold property represents a rare opportunity to acquire a well-secured retail asset in the heart of Lowestoft, a prominent coastal town in Suffolk.
Positioned on the pedestrianised London Road North, directly opposite the main entrance to the Britten Shopping Centre, the property enjoys a highly visible and accessible location that benefits from significant footfall.
Surrounding occupiers include established national retailers such as Boots, Waterstones, and H. Samuel, further strengthening the profile of the location.
The property extends to approximately 32,090 sq ft, arranged across three floors. The ground floor is primarily configured as a well-presented Marks & Spencer foodhall, while the first and second floors provide ancillary accommodation including storage and staff facilities.
Designed for operational efficiency, the building is serviced by goods lifts with access to all floors, supported by a dedicated loading bay from Grove Road. In addition, the property benefits from an extensive retail frontage and demised on-site car parking for approximately 26 vehicles, enhancing both customer access and tenant convenience.
The asset is let in its entirety to Marks & Spencer PLC, a leading UK retailer with a Dun & Bradstreet 5A1 covenant, signifying minimal risk of business failure. The lease, which runs until March 2027 on a full repairing and insuring basis, generates an annual rent of £286,132, with fixed annual uplifts of 1.95% providing predictable income growth. At expiry, Marks & Spencer has renewal rights, further underlining the long-term security of the investment.
Alongside the stability of income, the property offers clear asset management and development potential, with the possibility of converting the upper floors to residential accommodation, subject to planning consent. This adds an additional layer of value creation for investors seeking both secure income and future upside.
With an asking price of £3.25 million, the property delivers an attractive net initial yield of 8.5%. Combining a prime location, a secure long-term tenant, and tangible opportunities for development, this Marks & Spencer investment presents a compelling acquisition for investors focused on stable returns and capital growth within a strong regional market.
Tenure : Freehold
