Retail premises for sale

High Street, King's Lynn PE30

Investment Consideration:
Gross Initial Yield: 8.94%
Rental Income: £38,000 p.a.
VAT is applicable to this property. Togc available.
Tenant in occupation for 20+ years. Let on a new lease renewal from June 2026.
Comprises double-fronted large retail premises t/a British Heart Foundation charity shop
Town centre location with nearby occupiers including Cash Converters, map Counselling Centre, Pizza Express, Smile Dental Care and Santander amongst a variety of other retailers.

Property Description:
Comprises large two-storey commercial premises t/a British Heart Foundation charity shop. The property benefits from double frontage on High Street, as well as vehicular access and loading area at rear, providing the following accommodation and dimensions:
Ground Floor: 605 sq m (6,512 sq ft)
Open plan retail, storage, office, wc
First Floor: 514 sq m (5,532 sq ft)
Ancillary, office, storage, wc
Total gia: 1,119 sq m (12,044 sq ft)

Tenancy:
The property is at present let to British Heart Foundation* for a term of 5 Years from 29th June 2026 at a current rent of £38,000 per annum and the lease contains full repairing and insuring covenants. Tenant in occupation for 20+ years. Tenant option to determine on 29.06.29 with min 6 months notice. Tenant benefits from rent free period from 28.06.26 until 28.09.26. The vendor will top-up rent so the buyer receives the equivalent to £38,000 p.a. From completion.
*British Heart Foundation are a registered charity under No 225971.
For the year ending 31st March 2024, they reported a Total Funds of £138,300,000.

Location:
King's Lynn is a port and commercial centre located on the River Great Ouse, 41 miles west of Norwich and 34 miles north-east of Peterborough. The town benefits from being adjacent to the A47, which links the town to both Norwich and Peterborough and the A10, the main route to Cambridge. The property is approximately 0.4 miles from King's Lynn Station which provides a direct service to London Kings Cross. The property is situated on the pedestrianised High Street close to its junction with Saturday Market Place. Occupiers close by include Cash Converters, map Counselling Centre, Pizza Express, Smile Dental Care and Santander amongst a variety of other retailers