ENTER Indicative Visualisation

Oswald Boatyard, Bridge Road, , NR32 3LR Waterside Mixed-Use Development Opportunity For Sale www.kingsbury-consultants.co.uk Oswald Boatyard, Bridge Road, Lowestoft, Suffolk NR32 3LR

HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS

SUMMARY

• Redevelopment opportunity comprising a former boatyard, derelict houses, library and associated land occupying a site of approximately 1.5 acres

• Planning permission for the construction of 80 apartments (3 x studio, 33 x 1 bed, 34 x 2 bed and 10 x 3 bed units) totalling 57,852ft2 all for private sale plus a new library and commercial space

• Picturesque waterside location overlooking and approximately 300m from North Station (direct links to the town centre and Norwich)

• Offers invited in excess of £1,000,000 for the vacant freehold interest

Indicative Visualisation www.kingsbury-consultants.co.uk Oswald Boatyard, Bridge Road, Lowestoft, Suffolk NR32 3LR

HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS

DESCRIPTION

The property comprises a former boatyard occupied by a number of redundant buildings, a former library (let to the Local Authority) and associated land, occupying a broadly rectangular site extending to circa 1.5 acres.

The site is bounded by Lake Lothing to the south (with sloping access directly into the water) and Bridge Road (A1117) to the north and west.

To the west of the site on the other side of Bridge Road is Oulton Broad, a body of water bounded by attractive houses, public open space and harbours in a picturesque setting.

The property provides a rare opportunity to regenerate disused brownfield land to create an 80 unit residential scheme with new commercial and community spaces looking over the water. LOCATION

The property is located on Bridge Road within the Oulton Broad district of Lowestoft, within Council.

Lowestoft is sea-front town of circa 70,000 people located in north-eastern Suffolk, approximately 110 miles north-east of London, 38 miles north-east of Ipswich and 22 miles south-east of Norwich. Lowestoft town centre is located approximately 2.5 miles to the east of the property, offering a variety of shops and amenities, as well as access to the beach.

Oulton Broad North Station is situated approximately 300 meters to the north-east of the site, providing National Rail links to Lowestoft town centre and seaside (7 minutes) and Norwich (32 minutes). www.kingsbury-consultants.co.uk Oswald Boatyard, Bridge Road, Lowestoft, Suffolk NR32 3LR

HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS

PLANNING & DEVELOPMENT PROPOSED ACCOMMODATION SCHEDULE

DESCRIPTION AMOUNT GIA m2 GIA ft2 POTENTIAL Commercial Library 1 101 1,088 Commercial Unit 1 159 1,715 Planning permission was granted on 19th February 2016, under reference DC/15/3748/FUL, for the construction of two new residential blocks to provide 75 residential apartments (32 x 1 Sub-Total 2 260 2,803 bed, 33 x 2 bed and 10 x 3 bed units) along with a new library and a commercial unit, as well Residential as conversion of the existing library building to create a further 5 apartments (3 x studio, 1 x 1 Studio Apartment 3 95 1,023 bed and 1 x 2 bed units). 1 Bedroom Apartment 33 1,848 19,897 2 Bedroom Apartment 34 2,552 27,470 Out of the 80 residential units in total , 66 will be located within Block A (above the commercial space) with a further 9 within Block B and 5 within the converted library building. 3 Bedroom Apartment 10 878 9,459 The proposed development will include 87 car parking spaces (70 in a basement with 17 Sub-Total 80 5,374 57,851 at surface level) of which 80 are provided for the residential units and 7 for the library and Grand-Total 82 5,634 60,654 commercial unit.

All residential units will be for private sale with no requirement for Affordable Housing. We understand that no Section 106 financial contributions are payable, although there is a CIL liability of circa £17,305.51.

The development will incorporate boat moorings, a landing stage for a river taxi and a waterside terrace with direct access to the public library and the commercial space.

The online planning application can be found here. NEW LIBRARY

An obligation is in place for the developer to construct the new library premises to a shell and core specification and return it to the Local Authority on a 99 year lease with a peppercorn Indicative Visualisation ground rent within 5 years from August 2016. www.kingsbury-consultants.co.uk Oswald Boatyard, Bridge Road, Lowestoft, Suffolk NR32 3LR

HOME SUMMARY DESCRIPTION & LOCATION DEVELOPMENT TERMS

TENURE

The property is to be sold freehold with vacant possession upon completion.

VAT

We understand that the property is not elected for VAT.

TERMS

Offers are invited in excess of £1,000,000.

ADDITIONAL INFORMATION

Indicative Visualisation Additional documents such as approved planning drawings can be found in our dataroom using the password ‘Oswald’.

CONTACT

To discuss any aspect of the property of disposal process, please contact the sole selling agents:

Keir Goldstein 020 7183 2529 [email protected]

Kingsbury 1st Floor, 81 Alie Street, London E1 8NH

Kingsbury on their own behalf and on behalf of the Owner / Landlord of this property whose agents, gives notice that this document does not constitute any form of contract for sale or Indicative Visualisation lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in No: 06869268.