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Commercial investment with 3 flats and 3 shops

King's Lynn, PE30 - Get Access

Description

We are pleased to offer this superb investment opportunity for sale. The premises are situated close to the hospital, within the popular area of Gaywood, offering a wide range of recreational and shopping facilities including Tesco, Aldi, dentists, launderettes, dry cleaners, schools, and a chemist, while King's Lynn town centre remains easily accessible. Additionally, the premises benefit from the use of a free public car park at the rear of the building. The property comprises 3-5 Wootton Road and 1b, c, and d River Lane, King's Lynn. The building features brick walls, single-glazed windows, and a mostly tiled roof with additions, housing three occupied residential units, three occupied commercial units, a communal stairwell and hall, and designated parking spaces shared between Betfred and 1e River Lane. Tenancy Details: Residential Units (1b, c, and d River Lane): Held on periodic tenancies with a combined rental income of £1,465 per calendar month. Unit 1d is a second-floor three-bedroom flat on a periodic tenancy with a 1-month notice period (Council Tax Band A, EPC Rating C). Unit 1c is a studio flat with a separate kitchen on a periodic tenancy with a 2-month notice period (Council Tax Band A, EPC Rating D). Unit 1b is a one-bedroom flat featuring a separate private bathroom across the hall (no washing machine plumbing) on a periodic tenancy with a 2-month notice period (Council Tax Band A, EPC Rating D). Commercial Units (secured under the Landlord and Tenant 1954 Act): 1e River Lane: Currently used as a beauty salon, comprising a hall, waiting room, reception room, kitchen area, and cloakroom. Total floor area is approximately 80 sq metres, let at £416.66 per month. EPC Rating C. Unit 1, 3 Wootton Road: Currently trading as a phone repair shop, comprising a main shop with approximately 3-metre frontage and a cloakroom providing access to the communal entrance hall and rear car park. Total floor area is approximately 31 sq metres, let at £1,250 per quarter. EPC Rating TBC. Betfred, 3-5 Wootton Road: Comprising a main shop area with a recess door and display unit, plus a cloakroom. Total floor area is approximately 145 sq metres, let at £17,000 per annum. EPC Rating B.