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5 bedroom block of apartments for sale
54-55 London Road, King's Lynn, PE30 5QH
£325,000
54-55 London Road, King's Lynn, PE30 5QH
£325,000
Our Summary
- An investment opportunity comprising 2 commercial units (Potential income £21,000 pa) and 3 flats (Current income £21,540 pa) being situated on the main thoroughfare to King's Lynn in a prominent position
- The potential yield is around 12% if both commercial units are let for £12,500 (54) and £8,500 (55) per annum
- 51a Guanock Terrace: 2 bedroom flat - £495 PCM (Potential for further increase)
Description
This investment opportunity 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, while the three flats generate an annual income of £21,540. The property benefits from a prominent position on London Road, with a 30-minute parking bay directly outside and is within walking distance to the town centre, bus and railway stations. The flats are currently let on assured shorthold tenancies and have a potential yield of around 12% if both commercial units are let at £12,500 and £8,500 per annum. The property is a row of small, independent shops, including a café and convenience store, and is close to local amenities, schools, and the Queen Elizabeth Hospital.