47-49 Balderton Gate 690 sq ft Retail Property Newark NG24 1UE £75,000 (£108.70/sq ft)

Investment Consideration:
GIY: 7.97%
Rental Income: £5,980 p.a.
VAT is NOT applicable to this property
Comprises two-storey retail premises t/a Electronics Store
Suitable for variety of uses (Class E)
Future residential development potential, STPP
Situated on the east side of Balderton Gate in a predominantly residential area, a short walk from Newark town centre.
Property Description:
Comprises two-storey retail premises t/a electronics store, providing the following accommodation and dimensions:
Ground Floor: 51 sq m (550 sq ft)
Open plan retail/office, storage, wc
First Floor: 35 sq m (377 sq ft)
Ancillary
Total GIA: 86 sq m (926 sq ft)
Tenancy:
The entire property is at present let to an Individual for a term of 3 years from 5th May 2026 at a current rent of £5,980* p.a. and the lease contains full repairing and insuring covenants. Deposit held of £1,495.
*Tenant pays reduced rent of £4,940 p.a. for Year 1. The Vendor will top up rent, so the Buyer receives the equivalent to £5,980 p.a. from completion.
Location:
Newark-on-Trent is an attractive market town situated 17 miles north-east of Nottingham and 16 miles south-west of Lincoln. The town is located at the junction of the A1 and A46 dual carriageways giving good access in both north to south and east to west directions. The property is situated on the east side of Balderton Gate in a predominantly residential area, a short walk from Newark town centre.