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Mixed use for sale
London Road, King's Lynn, PE30
£325,000
London Road, King's Lynn, PE30
£325,000
Price History
Initial price | £350,000 |
16/08/24 | £325,000 |
Price Change | -7.14% |
Description
This investment property comprises two commercial units and three flats, situated on the main thoroughfare to King's Lynn. The commercial units have a potential income of £21,000 per annum, with one previously let to Pizza Hut and the other to a tattoo parlour. The three flats are currently let on assured shorthold tenancies, generating an annual income of £21,540. The property benefits from a prominent location, with a 30-minute parking bay outside and is within walking distance of the town centre, bus and railway stations. The flats are accessed from Guanock Terrace and have a potential yield of around 12% if both commercial units are let at £12,500 and £8,500 per annum. The property has a mix of two and one-bedroom flats, with current rents ranging from £495 to £750 per month.