Commercial Property
A freehold investment opportunity comprising a ground floor retail unit and two residential apartments above. Current income £8,400pa with two vacant apartments.
We are advised the ground floor commercial unit is occupied and held on a lease with rent passing of 700pcm (£8,400pa) on a 5 year term commencing 8 February 2021. Interested parties are advised to inspect the legal pack for more information.
Apartment A is offered with vacant possession. The apartment comprises of three bedrooms, lounge, kitchen and bathroom.
Apartment B is offered with vacant possession. The apartment comprises two bedrooms, kitchen and bathroom.
Kings Lynn is a historic market town in Norfolk and is a highly desirable area for both residents and investors. The town boasts excellent road links to the North Norfolk coast and the prestigious Royal Sandringham Estate. Additionally, Kings Lynn offers a mainline rail connection providing easy access to Ely, Cambridge and London Kings Cross.
Freehold. Part let/part vacant.
Auction Details
The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.
Binding contracts will be exchanged at the point of sale.
All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of 2.4% of the purchase price (subject to a minimum of £1,800 inc. VAT)
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.
This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
