Summary - 3 Barnby House, 14, Barnby Gate, NEWARK NG24 1PZ
1 bed 1 bath Retail Property (high street)
Town-centre investment with 9.6% gross initial yield and immediate income.
Ground-floor high-street retail unit, 972 sq ft
A compact, ground-floor retail unit in central Newark offering immediate income and a high initial yield. The property is let to an individual trading as a hair salon (currently used as storage) on a five-year lease from 1 July 2023, producing £7,200 per annum and a gross initial yield of 9.60%. The lease is full repairing and insuring, VAT is applicable and there is a tenant break option on 01.07.26 (minimum six months’ notice).
The investment is held as a long leasehold with 999 years from completion and a peppercorn ground rent, providing virtual freehold security. The unit has open-plan retail space, storage, a kitchen and WC across 90.3 sq m (972 sq ft), a traditional glazed shopfront and town-centre footfall, with national and local occupiers nearby.
Condition is mixed: externally average with wear to timber/plinth and the shopfront described as in need of maintenance and potentially derelict in parts. This creates clear refurbishment potential to enhance rental value or re-let after the tenant break, but budget accordingly for repairs and fit-out.
Location strengths include excellent transport links (A1/A46 junction, Newark Northgate station) and a busy high street setting. Note the neighbourhood data indicates high local crime levels and a transitional area profile, factors investors should weigh when assessing rental security and insurance costs.
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