Barnby Gate - Barnby House 773 - 1,745 SF Retail Condo Units Offered at $139,191 - $306,220 CAD Per Unit in Newark NG24 1PZ

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.

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.

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

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.

Investment Consideration:
Vacant possession
ERV: £9,600 p.a. GIY: 12.80%
VAT is applicable to this property
Comprises ground floor retail shop
Suitable for variety of uses (Class E)
Occupiers close by include Argos, Sports Direct, Cash Convertors, Oxfam and more.

Tenancy:
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.

Property Description:
The property comprises retail parade of 2 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: sold-off
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: 162.14 sq m (1,745 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.

Investment Consideration:
Rental Income: £8,075 p.a. + 1 Vacant Shop
ERV: £17,675 p.a.  GIY: 10.71%
VAT is applicable to this property
Comprises retail parade of 2 retail shops (14 Barnby Gate) with residential upper parts above (sold-off) and retail premises at 15 Balderton Gate (sold-off)
Unit 2 let until 2030. No breaks. Rent review in 2025 outstanding.
Occupiers close by include Argos, Sports Direct, Cash Convertors, Oxfam and more.

Tenancy:
Unit 1 (14 Barnby Gate) has been sold-off on long leasehold for a term of 999 Years from 20th March 2026 at a ground rent of peppercorn.
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 vacant, ERV: £9,600 p.a.
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.