Attractive and historic shopping centre comprising 22 retail units
Prominent town centre location fronting Market Place and Middle Gate
Asset management opportunities
Neighbouring occupiers include EE, Boots, NatWest, Starbucks and Ladbrokes
Lot 63
Auction 5th December 2018
Rent £71,300 per Annum Exclusive
Status Sold Prior
Price
Sector Shopping Centre
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Major Fund Manager
Property Information
Location
Miles
20 miles north-east of Nottingham
18 miles south-west of Lincoln
45 miles south-east of Sheffield
Roads
A1, A17, A46, A617
Rail
Newark Northgate, Newark Castle
Air
East Midlands Airport
Situation
Newark-on-Trent is an attractive market town popular with commuters, being located 20 miles from Nottingham city centre and 18 miles southwest of Lincoln. The property benefits from a prominent town centre location situated in between Middle Gate and the pedestrianised Market Place, home to the Newark Outdoor Market. Other nearby occupiers include EE, Boots, NatWest, Starbucks Coffee and Ladbrokes.
Tenure
Long Leasehold. Held from Newark & Sherwood District Council for a term of 125 years from 01/06/1988 until 31/05/2113 at a peppercorn rent.
Location
Miles
20 miles north-east of Nottingham
18 miles south-west of Lincoln
45 miles south-east of Sheffield
Roads
A1, A17, A46, A617
Rail
Newark Northgate, Newark Castle
Air
East Midlands Airport
Situation
Newark-on-Trent is an attractive market town popular with commuters, being located 20 miles from Nottingham city centre and 18 miles southwest of Lincoln. The property benefits from a prominent town centre location situated in between Middle Gate and the pedestrianised Market Place, home to the Newark Outdoor Market. Other nearby occupiers include EE, Boots, NatWest, Starbucks Coffee and Ladbrokes.
Tenure
Long Leasehold. Held from Newark & Sherwood District Council for a term of 125 years from 01/06/1988 until 31/05/2113 at a peppercorn rent.
Description
The property is an attractive 23,101 sq ft shopping centre providing 22 retail units over ground and first floors and additional office accommodation which has been let on a long lease. Part of the property is housed beneath one of the town’s most imposing buildings, the Grade 1 listed Georgian Town Hall overlooking Newark’s market place.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is an attractive 23,101 sq ft shopping centre providing 22 retail units over ground and first floors and additional office accommodation which has been let on a long lease. Part of the property is housed beneath one of the town’s most imposing buildings, the Grade 1 listed Georgian Town Hall overlooking Newark’s market place.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
(1) Blacks Outdoor Retail Limited is part of JD Sports Fashion Plc, a leading multichannel retailer of sports fashion and outdoor brands in the UK and Europe with 1,400 stores. Blacks currently operates 52 stores throughout the UK (Source: www.jdplc.com and www.blacks.co.uk 09/11/2018). (2) The Seller is in discussion with the tenant with regard to a new lease.
Contacts
Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street London W1B 2AD
