Summary - 47-49, BALDERTON GATE NG24 1UE
1 bed 1 bath Retail Property (high street)
Compact town-centre unit with redevelopment potential and immediate possession near Newark amenities.
- Freehold two-storey retail premises, vacant possession
- Total GIA 64 sq m (690 sq ft); compact town-centre floorplate
- ERV £6,500 pa; indicative gross yield 8.67% at asking price
- Suitable for Class E uses; residential conversion potential STTP
- No VAT payable on the sale
- No private parking or garden; attached terraced building
- Reported very high local crime levels may affect lettability
- Likely refurbishment and planning costs for conversion
A compact, two-storey red-brick retail property on Balderton Gate offered with vacant possession. The freehold includes two adjoining street-level units with 64 sq m (690 sq ft) GIA across ground and first floors, historically used as a photography studio. Estimated rental value is £6,500 pa, giving an indicative gross yield of 8.67% at the asking price. VAT is not applicable to this sale.
The location sits a short walk from Newark town centre on a predominantly residential high street with good pedestrian catchment and local amenities. The building is suitable for a variety of Class E uses or consideration for residential development, subject to planning (STTP). The freehold nature, vacant possession and clear ERV make it straightforward for an investor seeking immediate control or a small developer exploring change-of-use options.
Buyers should note material constraints: the unit is small with no private parking or garden and street-facing directly onto the pavement. Crime in the immediate area is reported as very high, which may affect lettability and tenant mix. The property will likely require some refurbishment before re-letting or conversion, and any residential scheme will need planning approval. Prospective purchasers should commission internal inspection, measured floorplans and local due diligence prior to offer.
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