7,700 Sq Ft FF Space Newark Town Centre

7,700 Sq Ft FF Space Newark Town Centre

To Let £35,000


  • 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.
  • The Castlegate Centre occupies a prominent corner position at the junction of Castle Gate and Lombard Street in the heart of the town centre.

  • DESCRIPTION

  • The purpose built Castlegate Centre has established itself as a premier leisure location within Newark; occupiers including Perys Bingo, UK Superbowl, Anytime Fitness and The Atrium Café Bar. A ground floor unit within the scheme has recently been taken by the owners of the Everest Inn Group of restaurants which serves high quality Nepalese food. The available unit is situated on the first floor of the centre, accessed through the main entrance via stairs or a lift. The unit is currently arranged and fitted out as a Chinese restaurant.

  • ACCOMMODATION

  • The accommodation in this unit comprises as follows:
  • Restaurant - 6,055 sq ft (562.5 sq m)
  • Kitchen - 1,291 sq ft (119.9 sq m)
  • Storage - 207 sq ft (19.2 sq m)
  • Office - 155 sq ft (14.4 sq m)
  • Male & Female WCs

  • AMENITIES

  • Located in the town centre of Newark, within close proximity to local shops and offices, close to Newark railway station. Goo road links the the A1 motorway and the A46, connecting Nottingham and Lincoln.

  • SERVICES

  • All mains services are connected to the property, these services have not been tested by the agent.

  • TERMS

  • Offered for let on a new lease, terms negotiable, based around a 10 year fully repairing and insuring lease, with rent review pattern to be agreed. Starting rent £35,000 + vat per annum.
  • The trading area and kitchen is fully equipped for trading and includes walk in fridge and freezer, bar counters and fridges - a consideration for the trading equipment will be required.

  • OUTGOINGS

  • According to the Valuation Office Agency the property is listed as a restaurant premises with a rateable value of £58,000.

  • VAT

  • We are advised that VAT will be chargeable on the Rent and on any Service charges and Landlords Insurance contributions required.

  • LEGAL COSTS

  • Ingoing tenants will be expected to cover landlords reasonable costs for granting a new lease.

  • SERVICE CHARGE

  • A service charge will be payable to cover the external repairs in addition to the staffing, maintenance and repair of common parts. This service charge is fixed for all tenants at £1 psf.

  • PARKING NOTES

  • No parking is available with this property. However multi storey and pay and display parking is located within close proximity to the property.

  • PLANNING

  • We understand that the premises have planning consent for use as a restaurant within Class A3 of the Town and Country Planning (Use Classes) Order 1987 (as amended). The premises are however suitable for a variety of alternative uses such as office, leisure or bar, subject to gaining planning consent for change of use. Interested parties should make their own enquiries to Newark & Sherwood District Council Planning Department (01636 650000).

  • VIEWING

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


    Property Details

    • Reference: 10254
    • Type: Retail
    • Status: To Let

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