Freehold Retail Investment - 12,044 sqft

King's Lynn, PE30
Freehold 12,044 sqft Town Centre 5-yr FRI Lease to 2031 National Charity Tenant £38,000 pa Contracted
£400,000
Was £425,000, negotiated to £400,000
£400,000
Agreed Price
Was £425,000, negotiated to £400,000
£33/sqft
Entry £/sqft
£400,000 across 12,044 sqft freehold
£38,000
Annual Income
£3,167 pcm · contracted to Jun 2031
12,044 sqft
Floor Area
1,119 sqm town-centre freehold
8.8%
Net Initial Yield
After all purchase costs · tenant repairing (FRI)
12.9%
ROCE
After refinance at 75% loan-to-value
The brief

A freehold town-centre retail building of 12,044 sqft in King's Lynn, single let to a national charity retailer with 700+ stores UK-wide on a NEW 5-year FRI lease (Jun 2026 to Jun 2031) at £38,000 a year. FRI means the tenant carries repairs, maintenance and insurance - the full £38,000 reaches the owner from day 1, and £190,000 is contracted over the term.

At £400,000, negotiated down from a £425,000 asking, the entry price works out at £33/sqft across 12,044 sqft of freehold town-centre retail. The building also carries future development potential - scope to add dwellings on top of the existing structure - so an investor holds secure, hands-off income while the development angle is worked up.

The contracted income delivers a 8.8% net initial yield on total capital in, after a 4% sourcing fee, and the agreed price sits £10,367 below the £410,367 the income is worth at the market yield. A refinance at 75% loan-to-value releases £307,775 of the capital and lifts the return on the money left in to 12.9%, with the 5-year FRI lease providing the income security lenders look for.

Investment Highlights
Contracted income from day 1 £38,000 a year on a 5-year FRI lease to Jun 2031. The tenant pays repairs, maintenance and insurance - £190,000 contracted over the term with no landlord running costs.
£33/sqft entry 12,044 sqft of freehold town-centre building at a fraction of the £145-£280/sqft residential evidence nearby - development headroom built into the price.
12.9% Net ROCE After a refinance at 75% loan-to-value, £16,456 a year net income on £127,303 left in - and the airspace development potential still on top.
Property overview
TypeRetail building (Class E)
TenureFreehold
Configuration2 combined retail units · single let to 1 tenant
Total floor area1,119 sqm / 12,044 sqft
OccupancyFully let · 5-yr FRI lease from Jun 2026
EPC statusCertified - in the full information pack
Deal details
Deal typeBuy and hold + development upside
Agreed price£400,000
Data packaged21 August 2026
Location - King's Lynn, PE30

General location only - map centred on the King's Lynn PE30 area. The exact address is shared with serious buyers at the appropriate stage. Tiles: OpenStreetMap contributors.

TODAY: a let commercial investment. Was £425,000, negotiated to £400,000.
EPC certificate
Commercial energy certificateCertified

The building holds a commercial energy certificate. The certificate is provided in the full information pack, shared with serious buyers.

Rental analysis
FRI lease5-yr FRI · Jun 2026 to Jun 2031
FRI Lease£38,000 pa (£3,167 pcm)
Repairs and insuranceTenant (FRI)
TenantNational charity retailer · 700+ stores
Net initial yield8.8% after all purchase costs
ROCE after refinance12.9% at 75% loan-to-value

Income is the contracted rent under the FRI lease - the tenant bears repairs, maintenance and insurance, so the full rent reaches the owner.

Deal Numbers
Purchase Costs
Purchase price£400,000
SDLT (commercial)£9,500
Solicitor fees£3,500
Survey and valuation£1,500
Sourcing fee (4%)£16,000
Total Capital In£430,500
Income (FRI lease)
FRI Lease£38,000
Voids (tenant liable)£0
Maintenance (tenant liable)£0
Insurance (tenant insures)£0
Net Annual Income£38,000
Net Yield8.8%
total income of £190,000 FRI lease over the 5-yr term
After Refinance (75% LTV, 7%)
Valuation (rent basis)£410,367
Loan (75% LTV)£307,775
Refinance costs£4,578
Annual interest (7%)£21,544
Money left in deal£127,303
Net After Finance£16,456 pa
ROCE12.9%

SDLT at commercial (non-residential) rates. Refinance modelled interest-only at 7% on a rent-based valuation, 1% arrangement fee; at 6% the ROCE rises to 15.3%. Total capital in includes a 4% sourcing fee of £16,000. Figures consistent with the in-house due diligence on this property.

Interested in this deal?
Your Contact
Eldi Levi Hevroni
Buckswell Holdings
Call
020 7070 8343
Mon-Fri 9am-5pm
Email
eldi@buckswell.co.uk
buckswell.co.uk
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