Auction House London

Lot 53

Commercial Property - Commercial Property 

21 & 21A Castlegate and 2, 4, 6 & 12 Boar Lane

Newark, Nottinghamshire, NG24 1AJ

Unsold, please refer to Auctioneer

A Substantial Grade II Listed Corner Building Comprising of Five Commercial Units Fully Let Producing £50,500 Per Annum. Potential for Re-Development of the Vacant Upper Parts (Subject to Obtaining all Relevant Consents)

Description

The property comprises a substantial Grade II Listed corner building arranged over ground and two upper floors internally arranged to provide 5 ground floor retail units with 8 ancillary rooms to the first and second floors, complete with WC's and bathroom (not demised to ground floor commercial leases).

Tenure

Freehold

Location

The property is situated in the historic city centre of Newark, close to local shops and amenities. Newark Castle and Gardens are within easy reach. Transport links are provided by Newark Castle rail station.

Note

The Ancillary Rooms on the first and second floors are separate from the ground floor commercial units Lease terms. Offering potential for re-development (subject to obtaining all relevant consents)


Current rent Reserved £50,500 Per Annum

Accommodation Schedule

Property Floor Accommodation Lessee Lease Terms Current Annual Rent
21 Castlegate & 2 Boar Lane Ground 2 Retail Units Bodrum Kebab House 10 year FRI Lease from 1st September 2020 £16,000
21a Castlegate Ground Retail Unit Dragon City 20 year FRI Lease from 28th November 2003 £17,500
4-6 Boar Lane Ground (Double-fronted Unit) Retail Unit Beau & Brooke 5 year FRI Lease from 1st November 2019 £10,000
12 Boar Lane Ground Retail Unit KD Living Ltd 5 year FRI Lease from 1st February 2020 £7,000
Upper Parts of 21 & 21a Castlegate First & Second 8 Ancillary Rooms N/A N/A N/A

Joint Agent

Additional Fees

Administration charge: £1,200 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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Enquire about 21 & 21A Castlegate and 2, 4, 6 & 12 Boar Lane, Newark, Nottinghamshire, NG24 1AJ

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