A former buy and sell store at the heart of a town centre looks set for a new lease of life.

Change of use plans have been lodged with East Suffolk Council to turn the vacant former Cash Generator store in Lowestoft town centre into new apartments.

The application centres around "change of use of commercial storage spaces into new dwellings on the upper floors" as well as "facade changes including upgrade of shop frontage, windows and doors to both front and rear" and "soft and hard landscaped areas to rear of development" at the former Cash Generator on London Road North in Lowestoft.

The scheme lodged in July by agents RJ Planning Dynamics Ltd, on behalf of the applicant Zubar Raja, is currently awaiting decision with the council.

It comes after the former four-floor shop at 45 London Road North failed to sell at an auction in March, having been given a guide price of £175,000 plus fees.

Marketed by Auction House East Anglia, the former cash generator was later sold post auction for an undisclosed amount, according to the auctioneers.

With the four storey building having been vacant a number of years, a new lease of life has been proposed.

A design and access statement submitted by the agents said: "The building was previously a money store which comprises of four floors, the ground floor used as the main shop with stairs towards the rear which served the first, second and third floor storage spaces.

"The proposed development comprises a change of use from existing retail Class E to Class C3 dwellings which shall entail a total of three new apartments on the upper floors of this existing four storey building.

"The first floor apartment shall be a two-bed apartment, second floor a one bed and the third floor being a one bed."

It concluded: "The proposed development provides accommodation for housing need and demand in the area.

"As such it will be of value to the ongoing regeneration of this part of the town, and we believe it should be encouraged."

With the property "well located within the prime retail pitch", Lowestoft town council's discussed the plans on September 6 and put forward a recommendation of approval to East Suffolk Council who, as planning authority, will have the final say at a later date.