Middlegate, Newark

Commercial Property for rent in Newark

A Town Centre shop premises to let with existing Class E planning as a shop, financial services, professional services, hairdressers/beauty, food and drink on the premises other than the sale of hot food. The property has a 22ft frontage to Middle Gate, a prime retail trading area with four way foot traffic via Chain Lane, Boar Lane and Middle Gate. This situation forms an important link between the Market Place and Stodman Street where many of the multiples are represented, and the Paxton's Court shopping area with the Morrisons supermarket and parking.

A Town Centre shop premises to let with existing Class E planning as a shop, financial services, professional services, hairdressers/beauty, food and drink on the premises other than the sale of hot food. The property has a 22ft frontage to Middle Gate, a prime retail trading area with four way foot traffic via Chain Lane, Boar Lane and Middle Gate. This situation forms an important link between the Market Place and Stodman Street where many of the multiples are represented, and the Paxton's Court shopping area with the Morrisons supermarket and parking.

The property stands prominently and would suit ideally niche trades including fashion boutique, retail, jewellers, computer, telephone sales, sweets and chocolates, bread and cakes. The property has a street frontage entrance and a secure separate side entrance.

Newark has a growth point designation and the current economy is thriving. New house building is taking place in the Middlebeck and Fernwood areas. Trading in the town as a result is bucking the national trend. As a shopping centre Newark is an increasingly popular place to visit.

The town has a population of approximately 35,000 and an important catchment area of a further 115,000. There is a broad base of commerce and industry in the town. The business parks are well occupied and there is a very good level of employment and affluence locally.

The town has an historical background, parts of which are the Georgian Market Square, the 12th Century Castle and riverside areas. The A1 and A46 intersection provides important road links and the fast East Coast railway service provides journey times from Newark to London King's Cross in just over 75 minutes. The property is offered on a tenants responsibility for repairs and insurance, for a term of 5 years, or a term to be agreed.

The following accommodation is provided:

Ground Floor -

Sales Area - 6.76m x 3.40m (22'2 x 11'2) - Plus 14'4 x 8'5. Front display window and entrance door. Suspended ceiling and lighting.

Kitchenette - 3.73m x 2.31m (12'3 x 7'7) - Measured to the staircase.

First Floor -

Office One - 3.58m x 3.35m (11'9 x 11') - With front window.

Office Two - 3.51m x 3.35m (11'6 x 11') - With front window.

Store Room One - 3.28m x 2.26m (10'9 x 7'5) -

Store Room Two - 2.69m x 2.62m (8'10 x 8'7) -

Wc -

Note - There is an intruder alarm system connected to the property which can be activated via the security company. There are smoke alarms fitted.

The property is within the Newark & Sherwood District Council surveillance camera area. A camera is attached to the building and the control box is subject to access given reasonable notice by Newark & Sherwood District Council for maintenance. There are no charges or responsibility on the tenant for the surveillance equipment.

Services - Mains water, electricity and drainage are connected to the property.

Lease Terms - The property is offered to let on lease for a term of 6 years at a rent of �12,000 per annum exclusive. The tenant is responsible for external and internal repairs and decoration. There shall be a rent review on every third anniversary of the lease.

Rent Deposit �3,000.

Business Rates - The current rateable value (1st April 2023 to present) is �10,250. For 2024-2025 the small business multiplier is 49.9p, and the standard multiplier 51.2p. Small business rate relief may apply.

Fixtures & Fittings - The fixtures and fittings include security doors, security alarm system and fire alarm system, subject to servicing and recommissioning.

Viewing - Strictly by appointment with the selling agents.

Important information

This is not a Shared Ownership Property

Property Ref: 59503_33420511