Conversion of commercial building in Lowestoft
We exchanged on this small 3 storey office in Lowestoft back in late 2019 with the plan to convert into 3 apartments under permitted development and retain commercial units on the ground floor.
Unfortunately, due to issues with planning and COVID the build program was delayed however once we were able to commence we were able to keep on time and on budget.
With purchase, build, finance, legal and sales costs coming in at £240,000 and with works now completed we have accepted an offer of £310,000 with the buyer keen to complete by the end of this month (Oct 2021) for a 20% margin.
With the success of this project, we are now looking for other similar commercial conversion projects in the Lowestoft area.
- Purchase Price: £97,500
- Refurbishment/Renovation: £97,255
- Legals and Other Costs: £22,056
- Sold Price: £310,000
- Profit: £93,189
Don’t miss the transformation photos coming soon. We will be showcasing these in our fortnightly newsbites. Not a subscriber? Just head over here to sign up.