To LetTown Centre Open A1 Retail Units

Units 3 & 4, Beaumond Cross, Newark, Nottinghamshire, NG24 1XG

Description

A parade of retail units forming part of the Beaumond Cross Retail Scheme. 

These are the last remaining units and are capable of accommodating a mezzanine to further increase the floor space. The units are finished off to a shell specification internally, ready to take a tenant shop fit, whilst externally the shop fronts have been installed by the Landlord.  
 
Full details on the units specification are available on request. This specification also contains information on the service capacity for the units.

Planning permission was secured in March 2017 for the development of a new Travelodge hotel on the adjacent former Robin Hood Hotel site.

EPC Rating: C56

LOCATION

The units are situated adjacent to the town’s Asda Superstore and bus station, in a prominent central location on the corner of Lombard Street and Portland Street. The town’s established prime retail pitch is located a short walk to the north and nearby retailers within the St Mark’s Retail  Scheme directly opposite the site include Marks and Spencer, Wilkos, Costa and Clarks Shoes.

Tenants within the scheme in addition to Asda now include Subway, Lloyds Pharmacy, Barnardo’s, Golf Addiction, Holdens and the main town centre doctors’ surgery – The Lombard Medical Centre.

Newark is an expanding prosperous market town with a population of circa 35,000 and a large and affluent catchment within 20kms of 160,000. The town is strategically located at the junction of the A1, A46 and A17 and has excellent direct rail links into Kings Cross – travel time 1 hour 20 minutes.

The town enjoys above average retail space from within its catchment. (Source CACi Report 2013).

ACCOMMODATION

Having measured the building in accordance with the prevailing RICS Code of Measuring Practice, we calculate that it has the following total floor areas:

Unit 3 252 sq m (2,710 sq ft)
Unit 4 478 sq m (5,125 sq ft)
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Total 730 sq m  (7,835 sq ft)

* The size of each unit can be reconfigured to suit

TOWN AND COUNTRY PLANNING

Both units have an Open A1 Retail Consent under the Use Classes Order 1987 (as amended). 

Unit 3 was more recently utilised as a gym falling within Class D2 (Assembly and Leisure). 

Alternative uses falling within Classes A2 (Financial and Professional Services), A3 (Restaurant and Café) and D1 (Non-Residential Institutional and Medical Centres) are also considered appropriate subject to planning.

TENURE

The units are available on a new lease for a term to be agreed.

The lease will be drawn on the equivalent of Full Repairing and Insuring terms by way of a service charge for external maintenance and the upkeep of the common areas within the development.

VAT

VAT will be payable on top of the rent at the prevailing rate.

LEGAL COSTS

Each party is to be responsible for their own legal costs incurred in documenting the transaction.