21-21a Castlegate and 2-6 and 12 Boar Lane
Newark
Nottinghamshire
NG24 1AJ

Freehold Retail Investment with Residential Development Potential (Subject to Consents)

  • Substantial Grade II Listed Property
  • Includes 4 Retail Units and Self Contained Ancillary Upper Floors
  • Busy Town Centre Location
  • Residential Development Potential of Upper Floors (Subject to Consents)
  • Approximately 365.92 sq m (3,926 sq ft)
  • Lot
    28
  • Auction
    04/Nov/2021
  • Rent
    £53,800 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 21-21a Castlegate and 2-6 and 12 Boar Lane, Newark, Nottinghamshire, NG24 1AJ
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
15 miles east of Nottingham,
16 miles south west of Lincoln,
35 miles south east of Sheffield
Roads
A46, A1, A617,
Rail
Newark Castle Railway Station,
Newark Northgate Railway Station
Air
East Midlands Airport,
Doncaster / Sheffield Airport, Birmingham Airport
Situation

Newark is a historic and picturesque market town approximately 15 miles north east of Nottingham.
The property is situated on the north side of the busy Castlegate Road at its junction with Boar Lane and directly opposite Newark Castle and Gardens. The property is located in the main commercial centre of Newark with nearby occupiers including Savers, Vodafone and many local traders, cafes and restaurants.

Tenure

Freehold.

Description

The property, a substantial Grade II listed building comprises 5 ground floor retail units and self contained ancillary accommodation on the first an second floors which may be suitable for conversion to residential flats (subject to consents).

VAT

VAT is not applicable to this lot.

Completion Period

6 Week Completion

EPC

Not required as the property is Grade 2 listed

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
21 Castlegate
& 2 Boar Lane
GroundRetail
34.74 sq m
(373 sq ft)
INDIVIDUAL t/a
BODRUM KEBAB
HOUSE
20 years from
01/09/2020
£16,00001/09/2025
(31/08/2040)
21a
Castlegate
Ground
Basement
Retail
89.76 sq m
23.20 sq m
(966 sq ft)
(249 sq ft)
INDIVIDUAL t/a
DRAGON CITY (4)
20 years from
28/11/2003
£17,500(28/11/2023)
4-6 Boar LaneGroundRetail
84.92 sq m
(904 sq ft)
INDIVIDUAL t/a
BEAU & BROOKE
5 years from
01/11/2019
£10,000(01/11/2024)
12 Boar LaneGroundRetail
29.50 sq m
(317 sq ft)
KD LIVING
LIMITED (2)
5 years from
01/02/2020 (2)
£7,000(31/01/2025)
Upper Parts of
21 & 21a
Castlegate
First
Second
Ancillary
78.90 sq m
24.90 sq m
(849 sq ft)
(268 sq ft)
INDIVIDUAL12 Month
Licence
£3,300 
Total Approximate Floor Area
365.92 sq m
(3,926 sq ft) (1)  £53,800 

(1) The above floor areas are those published by the Valuation Office Agency (www.voa.gov.uk)
(2) As to 12 Boar Lane, KD Living limited was incorporated in February 2018. The tenant has sublet the unit to an individual
t/a The Little Hair Extension Boutique for a term of 3 years from 15th March 2024, subject to a tenant option to determine the sub lease on 15th March 2023 and at a current rent reserved of £6250 per annum.
(3) The Upper parts are occupied under the terms of a licence agreement that can be determined by either party on serving 1 months written notice.
(4) As to 21 Castlegate & 2 Boar Lane, the Seller is holding a 3 months rent deposit.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    01.11.21
    File Size
    18 MB
    Login to View
  • Site Plan
    Updated Date
    15.10.21
    File Size
    737 KB
    View PDF
  • Catalogue Page
    Updated Date
    18.10.21
    File Size
    855 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Associate Auctioneers
Hammered Auctions Silver Stream House, 45 Fitzroy Street
London
W1T 6EB
Piotr Rusinek 07707611844piotr@hammeredauctions.co.uk
Seller's Solicitors
Setfords Solicitors Jenner House, 1a Jenner Road
Guildford
Surrey
GU1 3PH
Maria Schultz 019524664236mschultz@setfords.co.uk

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