Barnby Gate - Barnby House 972 - 1,745 SF Retail Condo Units Offered at $87,067 Per Unit in Newark NG24 1PZ

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: £8,400 p.a. GIY: 12.92%
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.

Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.

Property Description:
The property comprises 1 ground floor shop (Unit 3, 14 Barnby Gate). The freehold includes 2 adjoining retail shops (sold-off), residential parts above (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: Sold-off
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: 90.30 sq m (972 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:
Vacant possession
ERV: £8,400 p.a.  GIY: 12.92%
VAT is applicable to this property
Comprises ground floor retail shop (Unit 3)
Includes 2 adjoining retail shops (14 Barnby Gate) with residential upper parts above (sold-off) and retail premises at 15 Balderton Gate (sold-off)
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) has been sold-off on long leasehold for a term of 999 Years from 7th July 2026 at a ground rent of peppercorn.
Unit 3 (14 Barnby Gate) is at present vacant, ERV: £8,400 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.