To LetRetail unit

Unit 5, Martindale Lane, Newark, Nottinghamshire, NG24 1XF

Description

Martindale Lane provides a parade of retail units sitting adjacent to the Asda Supermarket and the Beaumond Cross Shopping Centre, a 100,000 sq ft extension to the existing Town Centre retail offer.  The scheme is anchored by an Asda Superstore.   There is a locked communal toilet facility for the use of the occupiers of these units only. 

On site car parking is provided at Beaumond Cross for in excess of 400 cars.  Parking is free for the first 2 hours. 

EPC Rating: TBC

LOCATION

Newark is an affluent and prosperous Nottinghamshire market town with a population of 37,082 (2011 Census).  The catchment within 20km is 160,000.  The town is strategically located at the junction of the A1, A46 and A17 and has excellent rail links to Kings Cross - travel time 1 hour 20 minutes. 

The scheme is located off Lombard Street, within the heart of the Town Centre, close to the St Marks Shopping Centre.  Martindale Lane forms one of the main links from St Marks and the Town Centre Shopping areas to the Beaumond Cross scheme, which is anchored by an Asda Superstore.

SERVICES

Water and electricity are connected to the property.  The units are supplied by a single water supply.  These have not been tested and interested parties are advised to make their own investigations to the relevant utility service providers.

Town & Country Planning

We understand that the property has consent for uses falling within Class E (Commercial, Business and Services Uses) of the Town and Country Planning (Use Classes) Order 1987 (as amended 2020).  Alternative uses may be appropriate subject to receipt of necessary Planning Consent. 

Following changes to the Use Classes order that came into effect on 1st September 2020, Class E now encompasses a number of uses including A1 (Shops), A2 (Professional & Financial Services), A3 (Restaurant & Cafe), B1 (Business) and D2 (Assembly & Leisure).

Tenure

The unit is available To Let by way of a tenant friendly ‘inclusive’ lease for a term of years to be agreed with rolling tenant only breaks. 

The tenants are directly responsible for maintaining the interior and shop front and the Landlords the external repairs, which is picked up out of a service charge which is included in the rent.

Rent

£9,950 per annum (£192 per week)

The rent is inclusive of service charge, buildings insurance and water rates.

*Agents Note - In the event that a unit is let to an occupier with a high use of water, then their use will be weighted accordingly and the tenant will be required to install a sub meter.

Service Charge 

A service charge will be levied to cover the upkeep, maintenance and repair of all common parts of the development.

VAT

VAT will be charged in addition to the rent at the prevailing rate.

Legal Costs

The ingoing tenant is to be responsible for all legal costs incurred in documenting the transaction.