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4 bed property
120 Norfolk Street, King's Lynn PE30
£295,000
120 Norfolk Street, King's Lynn PE30
£295,000
Our Summary
- With an existing HMO-style setup and expired planning permission to extend the upper floors by 3 metres to the rear, this property is bursting with potential for investors, developers, or business owners alike
- While the building would benefit from some refurbishment and general modernisation, it offers significant scope for value enhancement and rental yield increase, whether retained as a combined commercial/residential unit, converted entirely to residential use (STPP), or extended to maximise footprint
- While the accommodation requires updating, it offers excellent rental potential, especially with further enhancement or reconfiguration
- Expired planning permission to extend
- Scope for refurbishment throughout
Description
This versatile property in King's Lynn town centre offers a mixed-use freehold property with a ground floor commercial unit and a four-bedroom residential flat above, each with separate entrances. The commercial space, previously a takeaway and pizzeria, features a full-width glazed shopfront and a well-equipped kitchen, and could be reactivated as a takeaway, café, or retail outlet. The residential flat, currently arranged as a four-bedroom HMO-style rental, requires updating but offers excellent rental potential. The property benefits from high footfall and excellent visibility on Norfolk Street, a busy pedestrian thoroughfare in central King's Lynn, and is close to the train station, supermarkets, and other amenities. With expired planning permission to extend the upper floors, this property presents a significant opportunity for investors, developers, or business owners to enhance value and rental yield.