About this property

Detailed Description

The property comprises a multi-let mixed use investment opportunity, incorporating a ground floor commercial unit with two self contained residential flats above. Each part of the building benefits from its own independent access and is allocated one car parking space.

The property is built in traditional carrstone with uPVC double glazed windows beneath a concrete pantile roof, the property offers an attractive investment The ground floor commercial unit provides an open plan retail area with a prominent display window, together with a good sized kitchen, W/C and rear store. Above, Flat 4B is a well proportioned two bedroom first floor flat, while Flat 4A occupies the second floor and offers a decent sized one bedroom flat. Both flats have sea views.

Location

The Seaside market town of Hunstanton is a popular and thriving coastal holiday resort with varying leisure and coastal amenities with a population of approximately 5,000 and situated on the North-West Norfolk coast. The town is accessed via the A149 from King's Lynn (16 miles) to the south, and the A149 from Cromer (42 miles) to the west.

The property is situated on Northgate, just off Greevegate and the main High Street. 4 Northgate sits adjacent to Cruso & Wilkin and directly opposite a mixed commercial parade comprising offices, shops and restaurants, including Vertex Architecture, Warehouse Clearance Shops, Hunstanton Hardware, and both Indian and Chinese restaurants.

Business Rates

The property may benefit from Small Business Rates Relief which may reduce the rates payable. Please contact the agents for more information.

Services

Mains water, electricity, gas and drainage are connected. We have not carried out tests on any of the services or appliances and interested parties should arrange their own test to ensure these are in working order.

Viewing

Strictly by appointment with the Selling Agent.

VAT

It is understood that VAT will be applicable on the sale.

Legal Costs

Each party will be responsible for their own legal costs incurred in documenting the sale.

Other

EPC
Ground floor- B
First Floor- E
Second Floor- D

Terms

4 Northgate (Ground Floor) - a new 6-year lease at a rent of £10,000 pa has been agreed via Heads of Terms with solicitors instructed. The tenant is a private individual, and the lease is guaranteed. There is a tenant break option of the third anniversary of the lease commencement date.

 4A Northgate - Assured Periodic Tenancy Agreement commenced 19th May 2026. Rent £750 pcm with £600 security deposit.

 4B Northgate - Assured Periodic Tenancy Agreement commenced 19th May 2026. Rent £660 pcm with £495 security deposit.

 Gross income from the building (assuming completion of the ground floor lease) is £26,919.96 pa and represents a gross yield of 9.12% on the asking price of £295,000.