Property for sale

*FREEHOLD OFFICE INVESTMENT LET ON LEASE WITH OVER 3 YEARS UNEXPIRED* Freehold double fronted office premises with prominent frontage to Kirk Gate, a busy central shopping area in Newark Town centre. The property is Grade II listed and has a service road to the rear from Slaughterhouse Lane leading to three allocated car parking spaces. The premises have mixed office/retail use and are situated just a short walk from the Parish Church and the Georgian market place.

The accommodation provides on the ground floor four offices and a store (approx. 528sqft). To the first floor there are three offices, kitchenette and WC facilities and a further store (approx. 649sqft). Second floor accommodation provides two additional offices (approx. 378sqft).

Newark is a busy and prosperous town serving a population of approximately 35,000 with a catchment population of approximately 90,000. The town is a designated growth point with thousands of new homes under construction in Fernwood and south Newark areas. Indeed the town attracts shoppers from a wide area, many preferring this market town with a wide range of specialised shops, boutiques and also most of the multiples including Waitrose, Morrisons, Asda, Marks and Spencer, etc.

The town has excellent road access to the A1, A46 and A17 trunk roads. There are two railway stations: Newark Northgate providing services to London Kings Cross in just over 75 minutes; and Newark Castle station which provides rail links to Nottingham and Lincoln. Newark has for many years been an important centre for the antique trade. Newark Showground of course hosts the International Antiques Fair.

The building would lend itself to alternative uses in future, subject to planning permission.

Ground Floor - Double frontage with display windows either side of the front entrance door.

Office 1/Reception Area - 5.33 x 3.43 max (17'5" x 11'3" max) -

Office 2 - 3.05 x 2.69 max (10'0" x 8'9" max) -

Office 3 - 3.68 x 3.15 max (12'0" x 10'4" max) -

Office 4 - 3.18 x 2.62 max (10'5" x 8'7" max) -

Store - 1.91 x 1.42 max (6'3" x 4'7" max) -

First Floor -

Office 5 - 5.79 x 4.01 max (18'11" x 13'1" max) - With kitchenette facilities.

Wc -

Office 6 - 5.13 x 3.53 max (16'9" x 11'6" max) -

Office 7 - 4.85 x 2.87 max (15'10" x 9'4" max) -

Store - 2.31 x 2.21 max (7'6" x 7'3" max) -

Second Floor -

Office 8 - 5.44 x 3.73 max (17'10" x 12'2" max) -

Office 9 - 3.86 x 3.86 max (12'7" x 12'7" max) -

Outside - Three allocated parking spaces can be accessed from Kirk Gate via a pedestrian walkway or vehicular access is via Slaughterhouse Lane.

Tenure - The property is freehold. Let on lease to Living Waters Europe on the following terms:
Commencement date: 1st February 2023 for a term of 5 years.
Rent: £17,448 per annum
Upon expiration of the Lease term the Tenant is required to surrender the Premises in as good a state and condition as they were at the commencement of the Lease.

A copy of the lease will be made available on request.

The allocated parking spaces are long Leasehold.

Services - Mains water, electricity and drainage are understood to be available to the property.

Town & Country Planning - There is an established mixed use under Class E for retail and office accommodation.

The property is Grade II listed and situated within the town conservation area.

Rating Assessment - Rateable Value: £7,000.

Viewing - Strictly by appointment with the selling agents.