Bishops Lynn House, 18 Tuesday Market Place, King's Lynn, Norfolk, PE30

Investment Consideration:
Rental Income: £213,072 p.a.
ERV: £320,052 p.a. GIY ~ 9.41%
VAT is NOT applicable to this property
Comprises four-storey Grade II listed building overlooking the historic Tuesday Market Place.
Commercial area consists of three floors of serviced office space, which includes 14 offices and a conference room.
Residential element comprises 23 luxury apartments arranged over first, second and third floor (22 x 1-Bed and 1 x 2-Bed)
The apartments are serviced with stairs and lift.
Yearly parking permits can be purchased via the local borough council at a number of nearby car parks.
Total gross internal area: 1,950 sq m (21,000 sq ft)
Commercial space is natural gas heating. All residential units have electric heating and high performance glazing windows.
Situated on the Historic Tuesday Market Place and within a 5 minute walk to the bus station and railway station with its links to Cambridge (41 miles) and London (96 miles) Liverpool Street.

Property Description:
Bishops Lynn House is a Grade II Listed former merchants house dating from 17th Century with a substantial four-storey extension built in the 1970s, being converted into apartments.
The commercial area consists of three floors of serviced office space, which includes 14 offices and a conference room. Benefiting from 24-hour access, non-branded office space with WiFi and copying and printing facilities. This space offers various stylish meeting rooms and breakout spaces.
The residential element of the property comprises 23 luxury apartments completed to a high standard. The apartments’ layout include open plan living room/kitchen with integrated appliances, a master double bedroom and a shower room. The apartments benefit high end fixtures and fittings throughout, brushed polished electrics and brand new high spec glazing as well as concierge, reception and lift services. There is one 2 bedroom apartment.

Location:
Situated on the Tuesday Market Place, it has the dual advantages of being within walking distance of the High Street and also the river front which has undergone extensive improvements within the last few years. King's Lynn has an historical port on the River Great Ouse and internationally renowned medieval centre; the walk from Nelson Street to St Nicholas Chapel has been described as one of the finest in Europe. Many television and film crews have used this part of King's Lynn for a backdrop to such television productions as Martin Chuzzlewit, etc. King's Lynn is a port and market town in Norfolk, England, 98 miles (158 km) north of London, 36 miles (58 km) north-east of Peterborough, 44 miles (71 km) north-north-east of Cambridge and 44 miles (71 km) west of Norwich.