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6-7 High Street, King's Lynn, Norfolk, PE30

£375,000

£31.14 per sq ft

Business rates & charges may apply

Blue Alpine, London
SIZE AVAILABLE

12,044 sq ft

1,119 sq m

SECTOR

High street retail property for sale

USE CLASSUse class orders: Class E

E

Key features

  • Rental Income: £40,000 p.a.
  • Gross Initial Yield: 10.66%
  • Tenant in occupation for 20+ years. Reversionary opportunity. Lease expiry June 2026.
  • VAT is applicable to this property
  • Comprises double-fronted large retail premises t/a British Heart Foundation charity shop
  • Future residential development potential, subject to obtaining the necessary consents

Description

Investment Consideration:
Gross Initial Yield: 10.66%
Rental Income: £40,000 p.a.
VAT is applicable to this property
Tenant in occupation for 20+ years. Reversionary opportunity. Lease expiry June 2026.
Comprises double-fronted large retail premises t/a British Heart Foundation charity shop
Future residential development potential, subject to obtaining the necessary consents
Town centre location with nearby occupiers including Cash Converters, MAP Counselling Centre, Pizza Express, Smile Dental Care and Santander amongst a variety of other retailers.

Property Description:
Comprises large two-storey commercial premises t/a British Heart Foundation charity shop. The property benefits from double frontage on High Street, as well as vehicular access and loading area at rear, providing the following accommodation and dimensions:
Ground Floor: 605 sq m (6,512 sq ft)
Open plan retail, storage, office, wc
First Floor: 514 sq m (5,532 sq ft)
Ancillary, office, storage, wc
Total GIA: 1,119 sq m (12,044 sq ft)

Tenancy:
The property is at present let to British Heart Foundation* for a term of 10 Years from
29th June 2016 at a current rent of £40,000 per annum and the lease contains full repairing and insuring covenants. Tenant in occupation for 20+ years. Reversionary opportunity.
*British Heart Foundation are a registered charity under No 225971.
For the year ending 31st March 2024, they reported a Total Funds of £138,300,000.

Location:
King's Lynn is a port and commercial centre located on the River Great Ouse, 41 miles west of Norwich and 34 miles north-east of Peterborough. The town benefits from being adjacent to the A47, which links the town to both Norwich and Peterborough and the A10, the main route to Cambridge. The property is approximately 0.4 miles from King's Lynn Station which provides a direct service to London Kings Cross. The property is situated on the pedestrianised High Street close to its junction with Saturday Market Place. Occupiers close by include Cash Converters, MAP Counselling Centre, Pizza Express, Smile Dental Care and Santander amongst a variety of other retailers

Brochures

6-7 High Street, King's Lynn, Norfolk, PE30

Approximate location
Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Kings Lynn Station0.3 miles

About Blue Alpine, London

54 Welbeck Street, London W1G 9XS

Blue Alpine is a UK-wide property consultancy based in central London, focusing on commercial property, developments and residential blocks. Our services include disposals, acquisitions, lettings, auction advice, planning and architecture, dilapidations, and surrenders of leases.

Blue Alpine plans and delivers solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. By employing a transparent and consultative approach, we can assess and manage your current portfolio to devise a forward-looking investment plan and, if necessary, an exit strategy.

We are dedicated to disrupting the commercial property industry by delivering exceptional solutions that prioritise honesty, transparency, integrity, and providing an unparalleled client experience. Our team consists of knowledgeable professionals with a strong background in commercial property, enabling us to help clients around the world turn property into a path for growth.

Together, we unlock potential.

Notes

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Disclaimer - Property reference 67highstkings. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Blue Alpine, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data ©OpenStreetMap contributors.

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