Summary - North Gate, Newark NG24 1UT
1 bed 1 bath Commercial Property
**Standout Features:**
- Freehold investment property with substantial renovation completed in 2024
- Long-term lease in place for 7 years starting January 2025, generating an initial rent of £96,000, escalating to £111,000 by January 2031
- Prime location within the North Gate Retail Park, surrounded by well-known brands like Boots and TK Maxx
- Spacious with a total of approximately 10,790 sq.ft (1003 sq.m) across two floors
- 35 allocated car parking spaces, enhancing accessibility for both clients and employees
- Existing use class E allows for diverse options including retail and indoor recreational facilities
**Summary:**
Discover a prime commercial opportunity in Newark's vibrant North Gate Retail Park. This striking freehold investment has undergone extensive restoration, providing an attractive, modern space ripe for generating revenue. The property boasts a generous size of 10,790 sq.ft, divided into a ground and first floor and comes with an impressive 35 parking spaces, crucial for high traffic businesses.
With a secured 7-year lease starting January 2025, tenants are committed to an annual rent commencing at £96,000, with planned increases ensuring your investment's growth potential. The area enjoys a robust local economy, supported by a population of around 35,000 and a surrounding catchment area of over 150,000, which positions this property for future appreciation.
For those considering expansion or diversification, the property’s Class E designation allows versatile usage from retail to recreational spaces. Located just a short walk from Newark Northgate railway station, this property not only promises substantial rental income but stands as a testament to Newark’s thriving commercial landscape.
Don’t miss this opportunity to secure a versatile, income-producing asset within a booming area—ideal for serious investors looking for long-term growth. Act now to explore its potential before it's off the market!
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