To LetTown Centre Retail Unit

Unit 2, Beaumond Cross, Lombard Street, Newark, Nottinghamshire, NG24 1XG

Description

The property forms part of a parade of retail units known as Beaumond Cross Retail Scheme. This unit benefits from modern spotlighting and is carpeted throughout.

The units are capable of incorporating a mezzanine to further increase the retail space.

The new Travelodge Hotel scheme sits adjacent and is due to open its doors in March 2021.

* This unit can be combined with adjacent units to provide a larger floor area. Further information and plans can be provided on request.

EPC Rating: C52

LOCATION

The premises are situated adjacent to the town’s Asda Superstore and bus station, in a prominentcentral 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 with nearby retailers including Boots, New Look, Wilkos, Costa, Holland & Barratt and Clarks Shoes.

Tenants within the scheme also include Lloyds Pharmacy, Barnardo’s, Subway and the town centre’s main 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.

TOWN AND COUNTRY PLANNING

We understand that the property has consent for uses falling within Class E (Commercial, Business & Services Uses) of the Town and 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:  £38,000
UBR:  0.512
Period:  2020-2021

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 unit is available To Let 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.