Available
Newark-on-Trent – Retail Shop
47/49 Balderton Gate, Newark-on-Trent, Nottinghamshire NG24 1UEFreehold Retail Investment
Price
£75,000
Rent P.A.
£5,980
Yield
7.97%
Tenure
Freehold
Lease Term
3 Years
Years Left on Lease
2y 11m
Area
926 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises two-storey retail premises t/a Electronics Store
- VAT is NOT applicable to this property
- Suitable for variety of uses (Class E)
- Future residential development potential, STPP
- Situated on the east side of Balderton Gate in a predominantly residential area, a short walk from Newark town centre.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises two-storey retail premises t/a electronics store, providing the following accommodation and dimensions:
Ground Floor: 51 sq m (550 sq ft)
Open plan retail/office, storage, wc
First Floor: 35 sq m (377 sq ft)
Ancillary
Total GIA: 86 sq m (926 sq ft)
Ground Floor: 51 sq m (550 sq ft)
Open plan retail/office, storage, wc
First Floor: 35 sq m (377 sq ft)
Ancillary
Total GIA: 86 sq m (926 sq ft)
Tenancy Description
The entire property is at present let to an Individual for a term of 3 years from 5th May 2026 at a current rent of £5,980* p.a. and the lease contains full repairing and insuring covenants. Deposit held of £1,495.
*Tenant pays reduced rent of £4,940 p.a. for Year 1. The Vendor will top up rent, so the Buyer receives the equivalent to £5,980 p.a. from completion.
*Tenant pays reduced rent of £4,940 p.a. for Year 1. The Vendor will top up rent, so the Buyer receives the equivalent to £5,980 p.a. from completion.
Tenancies & Accommodation
Location Description
Newark-on-Trent 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. The property is situated on the east side of Balderton Gate in a predominantly residential area, a short walk from Newark town centre.