To LetTown Centre Retail Premises

42, Middlegate, Newark, Nottinghamshire, NG24 1AL

Description

The property comprises ground floor retail premises with attractive glazed frontage to Middlegate, being one of Newark’s strongest town centre retail pitches.

ACCOMMODATION

At the time of marketing, the property has not been measured but the following measurements were provided by the Landlord to the Agent:

Ground floor sales NIA 37.16 sq m (400 sq ft)

LOCATION

The property is situated in a strong retailing location on Middlegate in Newark, amongst a large number of strong national and regional retailers including Boots, Specsavers, Tambo Lounge, Vodafone, Costa Coffee and O2.

St Marks Place Shopping Centre is located close by and is home to retailers such as Wilko, WH Smith, Clarks Shoes, Clinton Cards, Poundland, New Look, Millets, Barclays and Santander banks 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 12 miles. The town enjoys above average retail spend from within its catchment (source CACI report).

SERVICES

We understand that mains services including water, drainage and electricity are available and connected to the property.

These have not been tested and interested parties are advised to make their own investigations to the relevant utility 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 and Café), B1 (Business) and D1 (Clinics, Health Centre, Créche and Day Nurseries).

RATES

Charging Authority: Newark & Sherwood District Council
Description: Shop and Premises
Rateable value: £10,000
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.

It is understood that qualifying small businesses will benefit from up to 100% Small Business Rates Relief. Any prospective tenant is advised to check with the Local Charging Authority.

TENURE

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

VAT

We understand all prices and rentals quoted are not subject to VAT.

LEGAL COSTS

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