8-16 High Street, Hunstanton, PE36 5AF

INVESTMENT SUMMARY

  • Hunstanton is an attractive and affluent seaside town on the North Norfolk Coast.
  • Large, well configured property in prime High Street location.
  • Entire building let to M & Co Trading Limited until 1 January 2026.
  • Rental income £60,000 pax

LOCATION

The property occupies a central location on the High Street which is Hunstanton’s principal shopping street, opposite Boots and with a mixture of multiple and independent occupiers nearby, including Costa, Specsavers, Card Factory and Hughes Electrical.

Hunstanton is an attractive and affluent seaside town on the North Norfolk coast, 17 miles north of King’s Lynn and grew from a Victorian seaside resort to become a popular holiday destination with a resident population of c. 4,500.

Hunstanton is home to the Sea Life Sanctuary and Aquarium and the popular Rainbow Park amusements and rides on the sea front.

The town is increasingly attractive to water sport enthusiasts with kite surfing, wind surfing and paddle boarding facilities, and is a popular base for exploring and enjoying the natural beauty and wildlife of the North Norfolk coast.

ACCOMMODATION

The property is a superb purpose built retail unit providing a level and unobstructed sales area on ground floor, storage at first floor and staff at second floor.  The property provides excellent and flexible retail accommodation and is the largest and best quality retail property in the centre of Hunstanton.

 The property has the following approximate dimensions and areas:-

 
  Internal Width67’20.4 m
  Shop Depth85’25.9 m
Ground Floor:
 Sales5,958 sq ft553.5 sq m
First Floor:
  Storage 5,900 sq ft 548.1 sq m
Second Floor:
  Staff 1,046 sq ft97.1 sq m

 

DEVELOPMENT POTENTIAL

Hunstanton is popular as both a holiday destination and for retirement living and with its large floor plates and extensive upper floors the property has potential for redevelopment/repurposing in the future to provide attractive residential accommodation, some with sea views.

TENURE

Freehold.

 

LEASE

 The entire property is let to M & Co Trading Limited on a full repairing and insuring lease for a term of 5 years from 1 January  2021 at a rent of £60,000 pax.

 

RATEABLE VALUE

 We understand from the Valuation Office Agency website that the property has a rating assessment of £71,500 with effect from 1 April 2017.  Interested parties are advised to make their own enquiries.

 

EPC

 Further details available upon request.

 

VAT

 The property is not elected for VAT.

 

PROPOSAL

 Offers are invited in the region of £675,000 (Six Hundred and Seventy Five Thousand Pounds) for the freehold of the property.  A purchase at this level will reflect a net initial yield of 8.5% after purchaser’s costs of 5.4%.

 

Plans

 

Goad Digital Plans are for identification only and not to be scaled as a working drawing and are based upon the Ordnance Survey Map with the permission of The Controller of Her Majesty’s Stationery Office © Crown Copyright 39954X. No part of this plan may be entered into an electronic retrieval system without prior consent of the publisher. Experian, Goad House, Salisbury Square, Hatfield, Hertfordshire, AL9 5BJ. Tel: 01707 636901 Fax: 01707 636907.

Francis Darrah for themselves and as Agents for the proposed Vendor(s) or Lessor(s) give notice: 1. That they do not make or give either in these particulars or in negotiations or otherwise any warranty or representation whatever in relation to the property. 2. Any plan attached to these particulars is for identification purposes only and all measurements are given as a guide and no liability can be accepted for errors arising therefrom. 3. The property being open to inspection any intended purchaser must satisfy himself as to the accuracy of these particulars and he will be deemed to have full knowledge thereof. 4. No liability can be accepted for any misstatement, omission or errors in these particulars. 5. These particulars do not constitute an offer or Contract or any part thereof.

 

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