28 - 32B Castle Gate
Address
Prices
£350,000
Size
NG Contacts
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Overview
- Guide price of £350,000 which reflects a net initial yield of 9.84% allowing for standard purchaser’s costs
- Total rental income of £35,785 per annum
- Long-term tenants in situ
- Mixed use investment
- Re-development opportunity STP
Location
28-32B Castle Gate occupies a prime position in the heart of Newark-on-Trent, an historic and well-connected market town in Nottinghamshire. The property is prominently situated on Castle Gate, one of Newark’s principal thoroughfares, benefiting from strong footfall and excellent visibility.
Description
A charming Grade II Listed property comprising two distinct buildings offering a versatile mix of retail, office, residential and workshop space.
28–30A Castle Gate: A prominent and characterful three-storey frontage building, providing flexible accommodation across ground, first and second floors. Currently used for retail, office, and residential purposes, with potential for alternative uses (subject to planning).
32A–32C Castle Gate: A separate two-storey brick building to the rear, currently operating as a workshop and microbrewery. Independently accessed via a private roadway, which also serves dedicated parking for both elements.
Services
All mains services are evident within the property, but we can provide no warranty with regard to the capacity or connectivity.
EPC
Please contact the sole marketing agents for additional details.
Tenure
Freehold, subject to and with the benefit of the occupational leases.
Guide Price
A guide price of £350,000, which reflects a net initial yield of 9.84% taking into consideration 3.8% purchaser’s costs.
VAT
The property is not elected for VAT.
Legal Costs
Each party will be responsible for their own legal costs incurred in documenting the transaction.
Anti Money Laundering Policy
In accordance with Anti-Money Laundering Regulations, two forms of I.D. and confirmation of the source of funding will be required from the successful purchaser.
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