We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work4-bedroom house · PE30 1AP
Listing removedReduced £10k (−2.8%) on 7 JulListed 415 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
**Guide price £290,000 - £300,000** A versatile opportunity in the heart of King’s Lynn town centre, Pizza Piazza offers a prominent mixed-use freehold property comprising a ground floor commercial unit and a four-bedroom residential flat above, each with separate entrances.
With an existing HMO-style setup and expired planning permission to extend the upper floors by 3 metres to the rear, this property is bursting with potential for investors, developers, or business owners alike.
While the building would benefit from some refurbishment and general modernisation, it offers significant scope for value enhancement and rental yield increase, whether retained as a combined commercial/residential unit, converted entirely to residential use (STPP), or extended to maximise footprint.
Ground Floor – Commercial Unit: Previously operated as a takeaway and pizzeria, the commercial space features a full-width glazed shopfront onto Norfolk Street with prominent signage potential.
Inside, the main counter and customer area leads to a well-equipped commercial kitchen including a walk-in cold room, preparation areas, and two customer/staff WCs.
The space could be reactivated as a takeaway, café, or retail outlet (subject to usage confirmation), or reconfigured to suit alternative commercial purposes.
First & Second Floors – Residential Flat (4 Bedrooms): Accessed separately via a front entrance, the upper floors are currently arranged as a four-bedroom flat, most recently used as an HMO-style rental.
The layout includes: Four individual bedrooms (spread across both floors) A communal kitchen/diner A shared bathroom While the accommodation requires updating, it offers excellent rental potential, especially with further enhancement or reconfiguration.
Location Situated on Norfolk Street, a busy pedestrian thoroughfare in central King’s Lynn, the property enjoys high footfall and excellent visibility.
It is just moments from the High Street, Vancouver Quarter Shopping Centre, supermarkets, bars, cafes, and banks.
The train station (with services to Cambridge and London King’s Cross) is within walking distance, and nearby car parks provide customer and tenant convenience.
To book A viewing with Purplebricks - You can use the brochure link in the full property description in the Rightmove advert or book online via or call to speak to an expert - whatever you need, we're available.
Reach us from 9am - 6pm between Monday and Friday, and from 9am - 5pm on a Saturday Property Ownership Information Tenure Freehold Council Tax Band A Property Description Disclaimer This is a general description of the property only, and is not intended to constitute part of an offer or contract.
It has been verified by the seller(s), unless marked as "draft".
Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it.
If you require clarification on any point then please contact us, especially if you’re traveling some distance to view.
All information should be checked by your solicitor prior to exchange of contracts. Successful buyers will be required to complete anti-money laundering and proof of funds checks.
Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer.
You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale.
The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits.
Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Pizza Piazza, 120 Norfolk Street, King's Lynn
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