Residential Development : King's Lynn

Freehold Residential & Commerical Investment with Development Potential

Guide Price
£250,000

Description

Freehold Residential & Commerical Investment with Development Potential

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Location

King’s Lynn is a market town situated about 46 miles north of Cambridge, with a population of about 40,000 (2011 Census) and serving a wider area of about 200,000 people. It is the regional centre for West Norfolk and well served with a range of amenities. The town has seen a number of new residential and commercial developments and is identified for further growth. 

Accessibility

Road links include the A10, A47 and A17. There is a main-line railway station providing services to London King’s Cross in under two hours. Access to the front of the property is from Tower Street which is pedestrianised and vehicular access is available to the rear from Clough Lane.

The Property

The property is situated in a popular pedestrianised retail location close to the High Street and St James multi-storey car park.

13 Tower Street – Single lock up ground floor retail unit with sales area, store room, WC and lobby (398.6 sq. ft.).

10 Clough Lane – residential unit with entrance hall, store room and kitchen/living area on the ground floor. On the first floor 2 bedrooms and a shower-room (1,005 sq. ft.).

To the rear of the property there is an area used for parking with scope for redevelopment subject to planning consent.

Externally

To the rear of the property there is an area used for parking with scope for redevelopment subject to planning consent.

Services

Mains services are connected to the property.

Outgoings

13 Tower Street: Non domestic business rates – Rateable Value £7,400 pa

Tenure & Possession

13 Tower Street is let under a commercial lease (sections 24-28 LTA 1954 excluded) for a term expiring on the 28 February 2022 at a rent of £8,100 pa effectively on internal repairing and insuring terms.

10 Clough Lane is let under an Assured Shorthold Tenancy at a rent £600.00 pcm exc.

Copies of the leases are available on request.

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Chelmsford OFFICE

For further information or to arrange to view this property please call us on 01245 231123 or email us.

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