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Barnby Gate - Barnby House 773 - 2,751 SF Retail Condo Units Offered at $140,145 - $495,178 CAD Per Unit in Newark NG24 1PZ
INVESTMENT HIGHLIGHTS
- Great connectivity
- Prominent frontage
- Good location
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
| Total Building Size | 14,835 SF | Floors | 3 |
| Property Type | Multifamily | Typical Floor Size | 917 SF |
| Property Subtype | Apartment | Year Built | 1970 |
| Building Class | B | Lot Size | 0.18 AC |
| Total Building Size | 14,835 SF |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 917 SF |
| Year Built | 1970 |
| Lot Size | 0.18 AC |
AMENITIES
SITE AMENITIES
- Storage Space
- Smoke Detector
4 UNITS AVAILABLE
Unit Unit 1
| Unit Size | 1,006 SF | Sale Type | Investment |
| Price | $205,546 CAD | Tenure | Long Leasehold |
| Price Per SF | $204.32 CAD | Cap Rate | 8.18% |
| Condo Use | Retail | NOI | $16,817.37 CAD |
| Unit Size | 1,006 SF |
| Price | $205,546 CAD |
| Price Per SF | $204.32 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 8.18% |
| NOI | $16,817.37 CAD |
DESCRIPTION
Property Description:
Comprises ground floor retail shop t/a Premier, providing the following accommodation and dimensions:
Ground Floor: 93.50 sq m (1,006 sq ft)
Open plan retail, storage, kitchen, wc
SALE NOTES
Investment Consideration:
Gross Initial Yield: 8.18%
Rental Income: £9,000 p.a.
VAT is applicable to this property
Comprises ground floor retail shop t/a Premier Convenience Store
Occupiers close by include Argos, Sports Direct, Cash Convertors, Oxfam and more.
Tenancy:
The property is at present let to an Individual t/a Premier for a term of 10 Years from 10th February 2021 at a current rent of £9,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 10.02.26 open market upward only. Tenant break option in 2026 NOT exercised.
Tenure:
Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 2
Unit Unit 2
| Unit Size | 773 SF | Sale Type | Investment |
| Price | $177,517 CAD | Tenure | Long Leasehold |
| Price Per SF | $229.65 CAD | Cap Rate | 8.50% |
| Condo Use | Retail | NOI | $15,088.92 CAD |
| Unit Size | 773 SF |
| Price | $177,517 CAD |
| Price Per SF | $229.65 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 8.50% |
| NOI | $15,088.92 CAD |
DESCRIPTION
Comprises ground floor retail shop t/a Tanning Studio, providing the following accommodation and dimensions:
Ground Floor: 71.84 sq m (773 sq ft)
Open plan retail, storage, kitchen, wc
Location:
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.
SALE NOTES
Investment Consideration:
VAT is applicable to this property
Comprises ground floor retail shop t/a Tanning Salon
Occupiers close by include Argos, Sports Direct, Cash Convertors, Oxfam and more.
Tenancy:
The property is at present let to an Individual t/a Tanning Salon for a term of 10 Years from 1st November 2020 at a current rent of £8,075 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.11.25 outstanding. Tenant break option in 2025 NOT exercised.
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 3
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 4
Unit Unit 3
| Unit Size | 972 SF | Sale Type | Investment |
| Price | $140,145 CAD | Tenure | Long Leasehold |
| Price Per SF | $144.18 CAD | Cap Rate | 9.60% |
| Condo Use | Retail | NOI | $13,453.90 CAD |
| Unit Size | 972 SF |
| Price | $140,145 CAD |
| Price Per SF | $144.18 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 9.60% |
| NOI | $13,453.90 CAD |
DESCRIPTION
Property Description:
Comprises ground floor retail shop t/a Hair Salon (currently used as storage), providing the following accommodation and dimensions:
Ground Floor: 90.30 sq m (972 sq ft)
Open plan retail, storage, kitchen, wc
Location:
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.
SALE NOTES
Investment Consideration:
Gross Initial Yield: 9.60%
Rental Income: £7,200 p.a.
VAT is applicable to this property
Comprises ground floor retail shop t/a Hair Salon
Occupiers close by include Argos, Sports Direct, Cash Convertors, Oxfam and more.
Tenancy:
The property is at present let to an Individual t/a Hair Salon (currently used as storage) for a term of 5 Years from 1st July 2023 at a current rent of £7,200 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine on 01.07.26 with min 6 months notice.
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 5
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 6
Unit Units 1-3
| Unit Size | 2,751 SF | Sale Type | Investment |
| Price | $495,178 CAD | Tenure | Freehold |
| Price Per SF | $180.00 CAD | Cap Rate | 9.16% |
| Condo Use | Retail | NOI | $45,360.19 CAD |
| Unit Size | 2,751 SF |
| Price | $495,178 CAD |
| Price Per SF | $180.00 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 9.16% |
| NOI | $45,360.19 CAD |
DESCRIPTION
Property Description:
The property comprises retail parade of 3 ground floor shops (14 Barnby Gate) with residential upper parts (sold-off) and retail premises at 15 Balderton Gate (sold-off), providing the following accommodation and dimensions:
No: 14 Barnby Gate
Ground Floor Unit 1: 93.50 sq m (1,006 sq ft)
Open plan retail, storage, kitchen, wc
Ground Floor Unit 2: 71.84 sq m (773 sq ft)
Open plan retail, storage, kitchen, wc
Ground Floor Unit 3: 90.30 sq m (972 sq ft)
Open plan retail, storage, kitchen, wc
First/Second Floor Residential Block: Sold-off
No: 15 Balderton Gate
Ground/First Floor Retail Premises: Sold-off
Total Retail GIA: 255.64 sq m (2,751 sq ft)
Location:
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.
SALE NOTES
Investment Consideration:
VAT is applicable to this property
Comprises retail parade of 3 retail shops (14 Barnby Gate) with residential upper parts above (sold-off) and retail premises at 15 Balderton Gate (sold-off)
Units 1 & 2 let until 2030/2031. No breaks. Rent reviews in 2025/2026.
Occupiers close by include Argos, Sports Direct, Cash Convertors, Oxfam and more.
Tenancy:
Unit 1 (14 Barnby Gate) is at present let to an Individual t/a Premier for a term of 10 Years from 10th February 2021 at a current rent of £9,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 10.02.26 open market upward only. Tenant break option in 2026 NOT exercised.
Unit 2 (14 Barnby Gate) is at present let to an Individual t/a Tanning Salon for a term of 10 Years from 1st November 2020 at a current rent of £8,075 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.11.25 outstanding. Tenant break option in 2025 NOT exercised.
Unit 3 (14 Barnby Gate) is at present let to an Individual t/a Hair Salon (currently used as storage) for a term of 5 Years from 1st July 2023 at a current rent of £7,200 p.a. and the lease contains full repairing and insuring covenants. Tenant option to determine on 01.07.26 with min 6 months notice.
First/Second Floor Residential Parts (14 Barnby Gate) have been sold-off on long leasehold for a term of 999 Years from 21st August 2015 at a ground rent of peppercorn.
Retail Premises (15 Balderton Gate) have been sold-off on long leasehold for a term of 999 Years from 9th March 2015 at a ground rent of peppercorn.
+3 More
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 1
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 2
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 3
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 4
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 5
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ 6
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ plot
Units 1, 2 & 3, 14 Barnby Gate Newark NG24 1PZ location
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Barnby Gate - Barnby House
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