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Guide price


Studio for sale Old Sunway, King's Lynn PE30

Property location

  • Eastgate Academy0.2 miles
  • Kings Lynn0.3 miles
  • King's Lynn Ferry Landing0.3 miles
  • West Lynn Primary School0.5 miles

Features and description

  • Leasehold
For sale by auction on Wednesday, 24 Mar 2021 at 11:00

Venue: Livestream Auction

Three flats plus Freehold for seven Residential units and one commercial property

An ideal investment opportunity, the three, one bedroom flats all come with one allocated parking space and currently have tenants in situ. The properties also benefit from electric heating and double glazing.

The current rental income for the three flats are:

Flat A, 7 Old Sunway - £550 pcm (£6,600 pa).

Flat C, 7 Old Sunway - £425 pcm (£5,100 pa).

10 Old Sunway - £525 pcm (£6,300 pa).

The income for the Freehold is:

4 Further flats service charge and ground rent - £2,400 pa

1 Commercial property is on an annual rent rate of one peppercorn pa.

The flats are located in Kings Lynn town centre with its wide range of shopping facilities. There is also a bus station and mainline railway station with services to Cambridge and London Kings Cross.

Flat A, Old Sunway accomodation
Lounge, kitchen/ diner, bedroom, shower room

Flat C, Old Sunway accommodation
Open plan lounge/ kitchen/ diner, bedroom, en-suite bathroom

10 Old Sunway accommodation
Open plan lounge/ kitchen/ diner, bedroom, bathroom

Lease details
882 Years remaining

Service charge - £500 pa

Ground rent - £100 pa

We have no access to these properties due to Covid restrictions

EPC Rating: All = D

Additional Fees
Buyers Premium: £500 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1140 inc VAT, payable on exchange of contracts.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.

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Auction House East AngliaView agent properties

The Barn, Newmarket Road, Cringleford, Norwich, NR4 6UE
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