Summary - FIRST FLOOR, THE BUTTERMARKET, MIDDLE GATE NG24 1AL
1 bed 1 bath House of Multiple Occupation
Fully let high-yield property in central Newark with immediate income.
Freehold mixed-use building with retail and 8-bed HMO income
This freehold mixed-use property on Middle Gate comprises three long-let retail units and a fully licensed, professionally managed 8-bedroom HMO. The estate produces a verified gross rental income of £101,000 per annum, with the HMO contributing £58,500. All units are fully let, providing immediate, diversified income and low void risk.
The sale is a 100% share sale, transferring ownership of the company that holds the freehold. This structure can offer stamp duty and tax advantages, but the buyer will assume the company and should allow for legal and tax due diligence. There is an outstanding bridging loan of approximately £689,000; refinancing into a long-term mortgage is underway and projected to improve cashflow and net returns for the incoming investor.
Location strengths include central high-street presence, strong transport links and established retail footfall in Newark town centre. Material risks include a very high local crime rate and a broadly deprived local area profile, which may affect tenant mix and long-term capital growth. Investors should also note the property is offered as a company sale rather than a conventional freehold purchase and factor transaction structure into acquisition planning.
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