To LetTown Centre Retail Premises

29, Stodman Street, Newark, Nottinghamshire, NG24 1AW

Description

The property comprises an attractive three storey mid terrace retail premises with a period glazed frontage to Stodman Street, being the prime retail pitch in Newark town centre.

LOCATION

The property is situated in a prime retailing location on Stodman Street, Newark, close to a large variety of national retailers including Costa Coffee, Boots, Holland & Barratt, O2, Greggs, Lloyds and NatWest Banks.

St Marks Place Shopping Centre is located adjacent and is home to retailers such as Wilko, WH Smith, Clarks Shoes, Clinton Cards, Poundland, New Look, Millets, Barclays and Santander and the NCP multi-storey car park.

Newark is an affluent market town situated alongside the A1 and East Coast Mainline with a resident population of circa 35,000 and a large and affluent catchment of circa 160,000 within 20 kms. The town enjoys above average retail spend from within its catchment (source CACI report).

SERVICES

All mains services including gas, water, electricity and drainage are available and connected to the property.

These have not been tested and interested parties are advised to make their own enquiries of the relevant service providers.

TOWN AND COUNTRY PLANNING

We understand that the property has consent for uses falling within Class E (Commercial, Business & Services Uses) of the Town & Country Planning (Use Classes) Order 1987 (as amended).

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 & Café), B1 (Business) and D1 (Clinics, Health Centre, Creche and Day Nurseries).

RATES

Charging Authority: Newark & Sherwood District Council
Description: Shop and Premises
Rateable value: £26,000
UBR: 0.512
Period: 2021-2022

Multiplying the Rateable Value figure with the UBR multiplier gives the annual rates payable, excluding any transitional arrangements which may be applicable.

For further information, please contact the Charging Authority.

TENURE

The property is available To Let by way of a Full Repairing and Insuring lease, for a term to be agreed.

VAT

All prices and rentals quoted are exclusive of, but may be subject to VAT.

LEGAL COSTS

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