60,000 sq ft - mixed leisure investment

60,000 sq ft – mixed leisure investment

For Sale £2,400,000


  • LOCATION

  • The historic market town of Newark, with a catchment of over 150,000, is located approximately 16 miles south west of Lincoln, 17 miles north east of Nottingham and 13 miles north west of Grantham. The town is located at the junction of the A1,
  • A46 and A17 and is situated on the East Coast Main Line railway. It is well known for its market, which is surrounded by attractive Georgian buildings. This, coupled with its Castle and strong reputation for antiques and antiquities, ensures it is popular with both residents and visitors.

  • DESCRIPTION

  • The Castlegate Centre occupies a prominent corner position at the busy junction of Castlegate and Lombard Street in the heart of the town centre. Castlegate forms part of Newark's established restaurant, café and bar circuit and is home to many good quality regional and national operators. It is close to the new Asda and bus station development which has created a new and vibrant hub of activity in the area. This development has further increased parking within walking distance of the Castlegate Centre.

  • ACCOMMODATION

  • UK Bowling Services LTD - 17,000 sq ft - Lease expires March 2029 - £52,000
  • Perys Bingo - 15,000 sq ft - Lease expires June 2025 - £35,000
  • Ground floor - Atrium bar - let agreed - 15 year lease - £30,000
  • 2nd floor gym - 8 year lease from 2021 - £35,000
  • Kamal Shandari & Gita Banda (Everest Inn) 3085 sq ft - Lease expires December 2034 - £25,000
  • Vacant space 8,000 sq ft 1st Floor- Vacant - ERV £25,000

  • AMENITIES

  • Located in the centre of the Market town of Newark and close to all local shops and offices, with good road access links, walking distance to the railway station, approximately 10 minutes on foot.

  • SERVICES

  • We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

  • TERMS

  • Freehold investment - for further information relating to the tenant schedule please contact 01664 431330 or office@pandfcommercial.com
  • Offered for sale Freehold with an asking price of £2,400,000 plus vat.

  • OUTGOINGS

  • Each tenanted unit is rated individually, full information will be made available on the schedule of information or contact the local billing authority for full rates information.

  • VAT

  • VAT is chargeable on the rent and may be payable on the purchase price, we will confirm this to any seriously interested parties in advance of agreeing terms.

  • LEGAL COSTS

  • Both Parties will be responsible for their own legal costs.

  • SERVICE CHARGE

  • Service charges are payable by the tenants to maintain the communal areas, further information will be made available.

  • PARKING NOTES

  • Parking is available on site for select few tenants, this area is also used for service and delivery yard and bin storage.

  • PLANNING

  • Full planning permission is granted for all current uses within the property.

  • OTHER

  • Finance may be available through Independent Financial Brokers and P & F Commercial would be pleased to make an introduction for you. The Brokers are completely Independent and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details.

  • VIEWING

  • Strictly by prior appointment via the sole agents P & F Commercial Tel: 01664 431330 or via email office@pandfcommercial.com


    Property Details

    • Reference: 10066
    • Type: Investments
    • Status: For Sale

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