High Street, King's Lynn

LOCATION
90 High Street occupies a highly prominent trading position within the heart of King's Lynn town centre, in one of the town's busiest pedestrianised retail locations. Nearby occupiers include Barclays Bank, Starbucks, and Primark, together with a range of national and independent retailers. The location benefits from substantial footfall throughout the day and enjoys excellent visibility from both passing pedestrians and town centre visitors. Kings Lynn is an historic market town, pop. Approx. 46,000, dating back 1000 years and once part of the Hanseatic League, located with it´s port in Eastern England in North West Norfolk on the River Great Ouse and next to The Wash. It serves a particularly large hinterland of about 150,000. This is a growth area.

DESCRIPTION
An attractive mixed-use investment property occupying a prominent High Street position, distinguished by its decorative façade and period architectural detailing, which allows it to stand out from neighbouring commercial buildings.
The property comprises a ground floor lock up retail unit with ancillary accommodation and the significant benefit of a rear yard providing for vehicular access and parking accessed off Purfleet Street service road, a particular benefit within the town centre.

The ground floor is currently let on a commercial lease, providing an immediate income stream, whilst the upper floors comprise extensive storage accommodation with considerable scope for enhancement. The first and second floors offer potential for residential conversion, with planning permission obtained for a 6-Bedroom House in Multiple Occupation (HMO). Alternatively, the accommodation may suit conversion into two self-contained spacious apartments, subject to any necessary consents.

The property therefore presents an opportunity to acquire a prominent town centre investment with ongoing income and significant asset management and development potential.

ACCOMMODATION
Ground Floor: 1,205 ft2 (112 m2)
Retail shop: Built depth: 75 ft Internal frontage : 19ft
Double-fronted display shop front
Retail area: 876 ft2 (81.38 m2)
Ancillary Kitchen, WC & Store: 216 ft2 (20 m2)
External rear access to Hall and stairs to :
First Floor: GIA: 1033 ft2 (96 m2) 3 Rooms
Stairs to:
Second Floor: GIA: 882 ft2 (82 m2) 3 rooms, bathroom & WC
Outside: Rear parking, gate to yard with separate access to shop and upper floors.

SERVICES
Mains water, electricity and drainage to be available. Applicants must make their own enquiries of the relevant authorities. These services and related appliances have not been tested.

TERMS
The ground floor is let on a commercial lease main terms as follows; use mobile phone shop, term of 5 years from 5th July 2025, tenant break option 6th July 2028, tenant responsible for internal repair and decoration (subject to a Schedule of Condition), together with contributions towards building insurance and structural/external repairs. Excluded from security of tenure provisions of the 1954 Act. Rent: stepped over the term of the lease; Current rent passing £20,000pax, rising to £21,000pax / £22,000pax / £23,000pax at each anniversary.

OUTGOINGS
The VOA website indicates a Rateable Value for 2026 of £24,250

VAT
The purchase price is quoted net of VAT, if applicable.

PLANNING
The property has the benefit of extant planning permission Ref: 25/00274/F for conversion of first and second floors from vacant office / storage space to a 6-bed House of Multiple Occupation (HMO). Please see attached to our sale particulars a copy of the proposed plans & permission. Any CIL obligations (if applicable) are the responsibility of the purchaser.

OTHER
Negotiations:
All negotiations in respect of this property are to be carried out strictly via the sole Agents, LANDLES

VIEWING
Further details and arrangements for viewing may be obtained from LANDLES.