Available
Newark-on-Trent – Vacant Retail
Unit 3, 14 Barnby Gate, Newark-on-Trent NG24 1PZVirtual Freehold Retail Investment
Price
£75,000
Rent P.A.
Vacant
Yield
ERV: £9,600 p.a.
Tenure
Leasehold
Area
972 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Vacant possession
- ERV: £9,600 p.a. GIY: 12.80%
- Comprises ground floor retail shop
- Suitable for variety of uses (Class E)
- Occupiers close by include Argos, Sports Direct, Cash Convertors, Oxfam and more.
Key Features
Tenure
Leasehold
VAT
VAT is Applicable
Property Description
Comprises ground floor retail shop, previously used as hair salon, providing the following accommodation and dimensions:
Ground Floor: 90.30 sq m (972 sq ft)
Open plan retail, storage, kitchen, wc
Ground Floor: 90.30 sq m (972 sq ft)
Open plan retail, storage, kitchen, wc
Tenancy Description
The property is at present vacant. ERV: £9,600 p.a.
Tenure:
Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Tenure:
Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
Newark is an attractive market town situated 17 miles north-east of Nottingham and 16 miles south-west of Lincoln. The town is located at the junction of the A1 and A46 dual carriageways, giving good access in both north to south and east to west directions. Newark Northgate Station is 0.6 miles to the north-east of the property and provides direct trains to London and Leeds. The property is situated on the south side of Barnby Gate, between its junctions with Carter Gate and Guildhall Street, a short distance tothe east of the town centre. The rear of the property fronts Balderton Gate. Occupiers close by include Argos, Sports Direct, Cash Convertors and Oxfam amongst a range of local traders.
