Published: 20/09/2021NEW: For Sale, Fully Let Income Producing Retail + Residential Investment let to Subway in Downham Market, Norfolk
RAB Commercial Property have been instructed to sell the fully let mixed-use investment at 24 High Street, Downham Market, Norfolk, Freehold.
Downham Market is an attractive and popular market town located 11 miles south of Kings Lynn and 30 miles north of Cambridge with a population of approximately 10,000 people. Downham Market town centre is vibrant with a wide range of independent and national retailers. Road communications are good with the A10 linking the centres of Kings Lynn, Ely and Cambridge.
The property comprises an attached building formally occupied by HSBC Bank. The property has been refurbished and converted to form a ground floor retail unit occupied by global retail chain Subway and 2x2 bedroom flats at first floor which are separately accessed and tenanted on AST's.
The ground floor retail unit is let to Subway Realty Ltd on a 15-year lease from 2018 with 5 yearly rent reviews. The current passing rent is £19,500 pax. The rent on Flat A is £500 pcm. The rent of Flat B is £550 pcm. The combined current rental income equates to £32,000 pax.
The property is offered for sale at a guide price of £450,000 subject to contract. VAT is not payable.
For more information please contact Richard Braysher at RAB Commercial Property on 07788 274312.
RAB Commercial Property specialise in the acquisition, sale and letting of all warehouse units, retail shops and offices in London, Berkshire, Cambridgeshire, Norfolk, Northamptonshire, Nottinghamshire, Lincolnshire, Hertfordshire, Bedfordshire, Surrey, Kent, Sussex Hampshire and the South East.
For more information please contact :
(t) 020 3751 2775
(m) 07788 274312