Prime investment property for sale or to let in King’s Lynn

This property is marketed by:
Colliers

Colliers is pleased to present this attractive town centre retail investment, on behalf of Joint Liquidators.

Offers in excess of £750,000 (Seven Hundred and Fifty Thousand Pounds) exclusive, subject to contract. A purchase at this level would reflect a net initial yield of 9% (assuming purchaser`s costs of 5.4%).

Features

• Prime retail pitch in the heart of King`s Lynn.
• Let to WH Smith Retail Holdings Limited until 24 June 2029.
• Recently rebased rent of £70,000 per annum.
• This WH Smith is the primary store for the West Norfolk area and comprises the main King`s Lynn Post Office.

Location

King’s Lynn was one of England’s foremost ports as early as the 12th Century, and was perhaps as important in the Middle Ages as Liverpool was during the Industrial Revolution. The town has retained much of the historic buildings and community feel. King’s Lynn is situated approximately 45 miles north of Cambridge, 46 miles west of Norwich and 35 miles northeast of Peterborough. The town serves as a central community hub for surrounding Norfolk, this caters for the increased footfall during the summer season as people travel and reside close to the popular Norfolk coastline. The population of the King’s Lynn and West Norfolk District is 154,325 (ONS 2021), reflecting an increase of 4.6% since 2011 and contributing to the overall 8.3% population growth of the wider East of England Region. The A47 links the town to both Norwich and Peterborough and the A10 is the main road to Cambridge. London lies approximately 110 miles to the south and can be accessed via the A1 and M11 motorway. A direct rail service between King’s Lynn and London King’s Cross runs with a fastest journey time of approximately 1 hr 35 mins.