26 High Street King's Lynn Norfolk PE30 1BP

26 High Street
King's Lynn
Norfolk
PE30 1BP

Freehold Retail Investment

New 5 year lease from August 2017
RPI Rent Review in August 2020
Prominent trading position on pedestrianised High Street close to Boots the Chemist, Debenhams and Primark
Close to new 20,000 sq ft H&M store due to open in August 2018

Lot
54
Auction
7th December 2017
Rent
£35,000 per Annum Exclusive
Status
Sold
Price
£321,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail Investment

New 5 year lease from August 2017
RPI Rent Review in August 2020
Prominent trading position on pedestrianised High Street close to Boots the Chemist, Debenhams and Primark
Close to new 20,000 sq ft H&M store due to open in August 2018

Lot 54
Auction 7th December 2017
Rent £35,000 per Annum Exclusive
Status Sold
Price £321,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 32 miles north-east of Peterborough, 39 miles west of Norwich
Roads: A10, A12, A47, A143
Rail: King’s Lynn Railway Station
Air: Norwich International Airport

Situation

The property is prominently situated on the eastern side of the pedestrianised High Street, south of its junction with New Conduit Street, in the heart of the town centre. Nearby occupiers include Debenhams, Boots the Chemist, Primark, Starbucks, and Topshop/Topman. A new 20,000 sq ft H&M store is due to open in 2018 on the site of the former Beales Department Store in Broad Street.

Tenure

Freehold.

Location

Miles: 32 miles north-east of Peterborough, 39 miles west of Norwich
Roads: A10, A12, A47, A143
Rail: King’s Lynn Railway Station
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor shop with ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor shop with ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Second	Retail/Ancillary Ancillary Ancillary	139.99 sq m 66.20 sq m 41.80 sq m	(1,507 sq ft) (713 sq ft) (450 sq ft)	CAPITAL PRIME INVEST LIMITED t/a Divine Beds	5 years from 25/08/2017 on a full repairing and insuring lease (1)	£35,000 (2)	25/08/2020 (3)
Totals		247.99 sq m	(2,670 sq ft)			£35,000

(1) The lease is full repairing and insuring subject to a Schedule of Condition.
(2) The tenant is currently benefiting from a rent-free period expiring 3rd March 2018. The tenant will then benefit from a half rent period to and including 24th August 2018. The Vendor has agreed to adjust the completion monies so that the property will effectively produce £35,000 p.a.x. from completion of the sale. A 2 month rent deposit is held by the Vendor.
(3) The rent is reviewed in August 2020 to the higher of the passing rent or RPI.