Westgate Street, Blakeney
- PROPERTY TYPE
Apartment
- BEDROOMS
2
- BATHROOMS
1
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Investment Opportunity
- Coastal Location
- 2 Shops & a 2 Bedroom Apartment
- Further Development Potential (subject to necessary consents)
Description
A rare opportunity to acquire the freehold interest of a mixed commercial and residential investment property, currently producing £54,699.60 per annum, with index linked future income.
The two retail units and apartment over are located at the western end of The Quay, in the much favoured holiday haven of Blakeney, first documented under this name in 1340.
The ground floor retail units are let under a lease dated 20/02/2024, at a rent of £42,000 per annum (Unit 1 being The Flint Gallery and Unit 2 sublet to Creek Lifestyle).
The headlease of the shops expires on 31/01/2029, subject to the tenant having the option to renew the lease for a further five years, at a maximum rent of £44,000 per annum.
The first floor self-contained two bedroom apartment (Harbour Deck) is separately let to the lessee of the shops, for a term of ten years, with effect from 01/02/2019, at a current rent of £12,699.60 per annum, subject to an upward only rent increase on 01/02/2028, linked to the Retail Price Index.
The property, as let, provides the complimentary offerings of a contemporary fine art gallery and lifestyle clothing & homeware, capturing the essence of this much loved historic harbour.
Harbour Deck has been let as sought after holiday accommodation, with exceptional coastal views, adjacent to the Coastal Path, in an Area of Outstanding Natural Beauty.
There is potential to further develop the property, by conversion of the store at the western end of Maritime Yard, a sheltered external area, or extension over Creek Lifestyle (subject to necessary consents).
SERVICES:
Mains electricity, water and drainage are connected.
Heating of Harbour Deck is electric radiators.
DISTRICT COUNCIL: North Norfolk.
Ratable Values:
Each part is assessed for Uniform Business Rates as follows:
The Flint Gallery: £21,250
Creek Lifestyle: £13,000
Harbour Deck: £2,800
VIEWING:
By Appointment through The Sole Agents, Spalding & Co.,
Office Opening Hours:
Monday - Friday: 9:00 a.m. - 5:00 p.m.
Saturday: 9:30 a.m. - 12:30 p.m.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Off street
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Westgate Street, Blakeney
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Visit our security centre to find out moreDisclaimer - Property reference 101285003154. 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 Spalding & Co, Fakenham. 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.
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