Report a Fault Unit 6 & 7, North Lynn Business Village, Bergen Way, North Lynn Industrial Estate, King’s Lynn, Norfolk, PE30 2JG
794 - 2,072 Sq Ft
£350,000
- Type: Office, Investment
- Availability: Withdrawn
Situation
North Lynn Business Village is part of a substantial employment area about 2 miles east of Kings Lynn town centre as shown on the location plan.
Description
North Lynn Business Village extends to 8 small 2 storey office buildings built in the 1990's of brick under pitched tile covered rooves. The buildings extend to about 10,200 sf together with 48 car spaces on a 1.27 acre site as shown on the Promap.
No's 6 and 7 are 2,560 sq ft (236.90m) mid-terrace self-contained office buildings with 10 car spaces. Joint use of Visitors Car Park.
Tenure Comments
Long Leasehold 999 years from 25 March 1996 at £306 pa. Reviewable every 5 years to 1% of Rack Rental Value. Next Review 25 March 2029.
Price
£350,000 Subject to Contract. Equating to a Gross Initial Yield 10.3%
Current Income: £36,092 pa
Rating Assessment: RV £12,100 UBR 2024/25 £0.49
EPC
Unit 6 - The EPC Rating is B
Unit 7 - The EPC Rating is C
Legal Costs
Each party to pay their own but prospective Buyer to underwrite Seller's legal costs up to £1,000 if they withdraw once Solicitors are instructed.
North Lynn Business Village is part of a substantial employment area about 2 miles east of Kings Lynn town centre as shown on the location plan.
Description
North Lynn Business Village extends to 8 small 2 storey office buildings built in the 1990's of brick under pitched tile covered rooves. The buildings extend to about 10,200 sf together with 48 car spaces on a 1.27 acre site as shown on the Promap.
No's 6 and 7 are 2,560 sq ft (236.90m) mid-terrace self-contained office buildings with 10 car spaces. Joint use of Visitors Car Park.
Tenure Comments
Long Leasehold 999 years from 25 March 1996 at £306 pa. Reviewable every 5 years to 1% of Rack Rental Value. Next Review 25 March 2029.
Price
£350,000 Subject to Contract. Equating to a Gross Initial Yield 10.3%
Current Income: £36,092 pa
Rating Assessment: RV £12,100 UBR 2024/25 £0.49
EPC
Unit 6 - The EPC Rating is B
Unit 7 - The EPC Rating is C
Legal Costs
Each party to pay their own but prospective Buyer to underwrite Seller's legal costs up to £1,000 if they withdraw once Solicitors are instructed.
