Commercial Property in Gorleston-on-Sea available for sale
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Commercial Properties for Sale in Gorleston-on-Sea, Great Yarmouth

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More details for 83 Magdalen Way Way, Great Yarmouth - Retail for Sale

83 Magdalen Way Way

Great Yarmouth, NR31 7AA

  • Retail for Sale
  • £275,000
  • 1,626 sq ft

Great Yarmouth Retail for Sale - Gorleston-on-Sea

Investment Consideration: VAT is NOT applicable to this property Comprises ground floor retail shop and a 3-bed flat at first/second floor Property benefits from rear service yard and parking for 2 cars Nearby occupiers include Morrisons, Coral, Post Office and Lloyds Pharmacy. Property Description: Mid-terrace building comprising retail shop at ground floor and 3-bedroom flat at first/second floor. The property benefits from rear service yard with 2 parking spaces and provides the following accommodation and dimensions: Ground Floor Shop: 74 sq m (796 sq ft) Open plan retail, Storage, Kitchenette, WC First/Second Floor Flat: 77 sq m (830 sq ft) 3 Bedrooms, Living Room, Kitchen, Bathroom/WC Total GIA: 151 sq m (1,626 sq ft) Tenancy: The retail shop is at present let to an Individual for a term of 12 years from 29th September 2023 at a current rent of £9,100 per annum and the lease contains full repairing and insuring covenants. Deposit held of £3,600. The residential flat is at present let on AST to an Individual for a term of 12 months from 13th June 2023 at a current rent of £7,800 per annum. Location: Gorleston-on-Sea, known colloquially as Gorleston, is a town in the Borough of Great Yarmouth, in Norfolk, England. The town lies approx. 3 miles south of Great Yarmouth and benefits from good road links via the A12. The property is located close to the junction with Stuart Close within an established retail parade, with occupiers nearby including Morrisons`s Daily, Coral, Post Office, Lloyds Pharmacy and Barnardo’s, amongst others.

Contact:

Blue Alpine Partners Ltd

Date on Market:

21/09/2022
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LoopNet UK Norfolk Great Yarmouth Commercial Properties For Sale in Gorleston-on-Sea, Great Yarmouth, UK

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FAQs about Commercial Properties For Sale in Gorleston-on-Sea

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How many Commercial Property listings are available for sale in Gorleston-on-Sea?
There are currently 7 Commercial Properties available for sale near Gorleston-on-Sea. These Gorleston-on-Sea Commercial Property listings have an average size of 8,117 sq ft. The largest available listing in Gorleston-on-Sea is 31,602 sq ft. The thriving commercial centre and excellent transport links in Gorleston-on-Sea make it an ideal location for businesses to find suitable Commercial Property for sale.
What factors could affect the prices of Commercial Properties in Gorleston-on-Sea?
Several factors can impact the price of Commercial Properties, including the size and location of the property, its net initial yield, and the amenities it offers. Prices in Gorleston-on-Sea currently range from £35 to £126 per square foot. While the average net initial yield for Commercial Properties is 6.15%.
What other types of commercial property are available for sale in Gorleston-on-Sea?
There is a diverse range of commercial properties available in Gorleston-on-Sea to suit various business needs. Gorleston-on-Sea offers office buildings, retail units and shops, and industrial units & warehouses, catering to a variety of sectors and industries. With a total of 7 Gorleston-on-Sea commercial property listings in the area, potential owners can find suitable options that meet their requirements.
What are the advantages of investing in commercial property in the UK?
Commercial property investment can provide long-term income through leases, capital appreciation, and portfolio diversification. Compared to residential property, commercial leases are often longer and place more responsibility on tenants for repairs and maintenance.
What is a net initial yield and why is it important?
Net initial yield is the annual rental income expressed as a percentage of the purchase price (after acquisition costs). It’s a key measure used by investors to compare return on investment across different commercial properties.
Do I need a commercial mortgage to invest?
Many investors use commercial mortgages to finance purchases. Lenders typically require a larger deposit than for residential property (often 25–40%) and will assess the property’s rental income and condition as part of the loan application.
What should I look for when doing due diligence?
Due diligence includes reviewing lease terms, tenant strength, service charges, planning permissions, condition reports, and title deeds. A commercial solicitor and surveyor are strongly recommended before purchase.
What are the risks of investing in commercial property?
Risks include void periods (no rental income), tenant default, maintenance liabilities, and changes in market conditions or planning regulations. Mitigating these requires proper property management and lease structuring.
Can overseas investors buy commercial property in the UK?
Yes, the UK market is open to international investors. However, you may need a UK-based legal representative and must comply with HMRC tax obligations, including stamp duty and possible capital gains tax on disposal.

Discover More Commercial Properties for Sale in the Gorleston-on-Sea, Great Yarmouth

Market Overview for Commercial Properties in Gorleston-on-Sea

Key information for Commercial Properties investors in Gorleston-on-Sea and comparable markets. This summary brings together pricing and building size data to provide a clear view of market conditions and potential investment opportunities.

City Avg Price Per Sq Ft Avg Size Available
Great Yarmouth £79 7,234 sq ft
Bungay £115 4,501 sq ft
Harleston £72 2,336 sq ft
Norwich £134 71,993 sq ft
Marsham £23 25,109 sq ft

Rental Price Trends in Gorleston-on-Sea

The price per square foot range for Commercial Properties in Gorleston-on-Sea and nearby cities. These metrics help establish valuation benchmarks and highlight possible value opportunities in the market.

City Min £ Sq Ft Avg £ Sq Ft Max £ Sq Ft
Great Yarmouth £15 £79 £287
Bungay £115 £115 £115
Harleston £64 £72 £80
Norwich £69 £134 £227
Marsham £20 £23 £36

Available Building Sizes

A summary of the current sizes of Commercial Property for sale in the Gorleston-on-Sea area. Refine your search based on space requirements and investment level.

City Smallest Property Avg. Sq Ft Largest Property
Great Yarmouth 363 sq ft 7,234 sq ft 31,602 sq ft
Bungay 4,501 sq ft 4,501 sq ft 4,501 sq ft
Harleston 1,171 sq ft 2,336 sq ft 3,500 sq ft
Norwich 544 sq ft 71,993 sq ft 2,086,500 sq ft
Marsham 15,457 sq ft 25,109 sq ft 27,039 sq ft

You searched for commercial property for sale in Gorleston-on-Sea. Explore 7 listings from top commercial agents on LoopNet. Whether you're looking for investment properties to expand your portfolio, establish a new venture, or secure a prime location, LoopNet offers a diverse range of opportunities to meet your goals. Each listing provides detailed information on property features, size, pricing, and high-quality floor plans and photos. With the most extensive inventory of commercial properties worldwide, LoopNet is your trusted partner in finding the perfect commercial property for investment.

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