142 Norfolk Street
Kings Lynn
Norfolk
PE30 1AU

Freehold Retail Investment

  • Let to The Entertainer (Amersham) Limited
  • Large shop - approximately 391.90 sq m (4,219 sq ft)
  • Prominent position on pedestrianised Norfolk Street, between High Street and Vancouver Quarter
  • Located between Caffè Nero and Marks & Spencer and close to Waterstones, WH Smith, Superdrug, Iceland, Sainsbury's, Greggs and Holland & Barrett
  • VAT-free investment
  • High Yielding on Guide Price
  • Lot
    34
  • Auction
    21/May/2020
  • Rent
    £76,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £550,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 142 Norfolk Street<br>Kings Lynn<br>Norfolk<br>PE30 1AU
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* More information on the term "price" can be found here

Property Information

Location
Miles
33 miles north-east of Peterborough
43 miles north of Cambridge
Roads
A10, A47, A149
Rail
King's Lynn
Air
London Stansted
Situation

King's Lynn is a popular market town in East Anglia, approximately 33 miles north-east of Peterborough and 43 miles north of Cambridge. The property is located on the north side of the pedestrianised Norfolk Street, close to its junction with High Street and near to The Vancouver Quarter, with retailers including Superdrug, Iceland, Sainsbury's, Greggs and Holland & Barrett. Other nearby retailers on Norfolk Street include Marks & Spencer, Caffè Nero, Waterstones and WH Smith.

Tenure

Freehold.

Description

The property comprises a Grade II listed two storey building, arranged as a double-fronted ground floor shop with ancillary accommodation on the first floor accessed via a hatch. The property benefits from parking for two cars to the rear.

VAT

VAT is not 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

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
Ground
First
Retail/Ancillary
Ancillary (hatch
access)
342.40 sq m
49.50 sq m
(3,686 sq ft)
(533 sq ft)
THE ENTERTAINER
(AMERSHAM) LIMITED
Approximately 10 years
from 18/05/2012 on a full
repairing and insuring
lease (2)
£76,000
Total
391.90 sq m
(4,219 sq ft)
  £76,000

(1) For the year ending 26th January 2019, The Entertainer (Amersham) Limited reported a turnover of £199,398,000, pre-tax profits of £15,407,000 and a total net worth of £38,286,000 (source: Experian Group 27/02/2020). The Entertainer was founded in 1981 and now operates from over 170 stores across the UK (source: www.thetoyshop.com).
(2) The lease is subject to a schedule of condition.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    28.04.20
    File Size
    21 MB
    Login to View
  • Catalogue Page
    Updated Date
    01.05.20
    File Size
    804 KB
    View PDF
  • Site Plan
    Updated Date
    01.05.20
    File Size
    498 KB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Dentons UKMEA LLP Dentons UK and Middle East LLP, The Pinnacle, 170 Midsummer Boulevard
Milton Keynes
MK9 1FE
Charlotte Stevens 020 7320 3980charlotte.stevens@dentons.com

Useful Links

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