142 Norfolk Street Kings Lynn Norfolk PE30 1AU

142 Norfolk Street
Kings Lynn
Norfolk
PE30 1AU

Freehold Retail Investment

Let to The Entertainer (Amersham) Limited
Large shop - approximately 391.90 sq m (4,219 sq ft)
Prominent position on pedestrianised Norfolk Street, between High Street and Vancouver Quarter
Located between Caffè Nero and Marks & Spencer and close to Waterstones, WHSmith, Superdrug, Iceland, Sainsbury's, Greggs and Holland & Barrett
VAT-free investment
High Yielding on Guide Price

Lot
7
Auction
26th March 2020
Rent
£76,000 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

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Freehold Retail Investment

Let to The Entertainer (Amersham) Limited
Large shop - approximately 391.90 sq m (4,219 sq ft)
Prominent position on pedestrianised Norfolk Street, between High Street and Vancouver Quarter
Located between Caffè Nero and Marks & Spencer and close to Waterstones, WHSmith, Superdrug, Iceland, Sainsbury's, Greggs and Holland & Barrett
VAT-free investment
High Yielding on Guide Price

Lot 7
Auction 26th March 2020
Rent £76,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN

Property Information

Location

Miles: 33 miles north-east of Peterborough; 43 miles north of Cambridge
Roads: A10, A47, A149
Rail: King's Lynn
Air: London Stansted

Situation

King's Lynn is a popular market town in East Anglia, approximately 33 miles north-east of Peterborough and 43 miles north of Cambridge. The property is located on the north side of the pedestrianised Norfolk Street, close to its junction with High Street and near to The Vancouver Quarter, with retailers including Superdrug, Iceland, Sainsbury's, Greggs and Holland & Barrett. Other nearby retailers on Norfolk Street include Marks & Spencer, Caffè Nero, Waterstones and WHSmith.

Tenure

Freehold.

Location

Miles: 33 miles north-east of Peterborough; 43 miles north of Cambridge
Roads: A10, A47, A149
Rail: King's Lynn
Air: London Stansted

Situation

Tenure

Freehold.

Description

The property comprises a Grade II listed two storey building, arranged as a double-fronted ground floor shop with ancillary accommodation on the first floor. The property benefits from parking for two cars to the rear.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Ground First	Retail/Ancillary Ancillary	342.40 sq m 49.50 sq m	(3,686 sq ft) (533 sq ft)	THE ENTERTAINER (AMERSHAM) LIMITED	Approximately 10 years from 18/05/2012 on a full repairing and insuring lease (2)	£76,000
Total		391.90 sq m	(4,219 sq ft)			£76,000

(1) For the year ending 26th January 2019, The Entertainer (Amersham) Limited reported a turnover of £199,398,000, pre-tax profits of £15,407,000 and a total net worth of £38,286,000 (source: Experian Group 27/02/2020). The Entertainer was founded in 1981 and now operates from over 170 stores across the UK (source: www.thetoyshop.com).
(2) The lease is subject to a schedule of condition.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.