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2 bedroom commercial property for sale

Balderton Gate, Newark

Sold STC 1,500 sq. ft. | £165,000

Property Description

Commercial information

  • 1,500 sq ft (139 sq m)

Key features

  • Investment Property Opportunity
  • Let On Lease
  • Seven Years Unexpired
  • Long Established Business
  • Chinese Takeaway
  • Self Contained Flat
  • Producing 13,000 Per Annum Exclusive

Full description

* Investment Property Opportunity * Let On Lease * Seven Years Unexpired * Long Established Business * Chinese Takeaway * Self Contained Flat * Producing £13,000 Per Annum Exclusive *

* Investment Property Opportunity
* Let On Lease
* Seven Years Unexpired
* Long Established Business
* Chinese Takeaway
* Self Contained Flat
* Producing £13,000 Per Annum Exclusive

The property comprises a ground floor takeaway shop together with a self contained flat on the first and second floors. The property has street frontage to Baldertongate, a good secondary trading area within the town centre and very close to the London Road car park.

The lease commencement date was September 2003 and the term 20 years ending 31st August 2023. The tenant is liable for all repairs to the property and insurance rent. There are rent review dates every second year anniversary.

The tenant Mr Chung has a long established business and is very well known in the town.

The property offers a good long term investment proposition.

The property is constructed of brick elevations. The main roof is double pitched and slated. There is a mono pitched slate roof to the rear and a flat mono pitched roof with Bitumastic felt to the ground floor rear section of the property and a single storey rear extension with concrete interlocking tiles.

The following accommodation is provided:

Ground Floor -

Reception Area /Waiting Room - 4.72m x 4.06m (15'6" x 13'4") -

Servery - 3.71m x 2.59m (12'2" x 8'6") -

Kitchen - 6.60m x 3.20m (21'8" x 10'6") -

Store - 4.98m x 2.44m (16'4 x 8') -

Wc - With basin and separate WC.

First Floor -

Bedroom - 4.88m x 3.58m (16 x 11'9" ) -

Bathroom - With bath, basin and gas heater.

Shower Room - With WC, basin and shower.

Second Floor -

Bedroom - 4.88m x 3.58m (16' x 11'9") - Overall measurements (partitioned into two rooms).

Lease Summary - Landlord: Spring Property Company Limited

Tenant: Au Lai See Cheung

Property: 23 & 23a Balderton Gate, Newark, Nottinghamshire

Lease Terms: The Lease commencement date was 1 September 2003 and the term 20 years ending 31 August 2023. The tenant is liable for all repairs to the property and insurance rent.

Rent: We are informed that the current rent is £13,032 per annum.

Rent Review Dates: Rent review dates are every second year anniversary and the next review date therefore is 1 September 2015.

Tenure - The property is freehold subject to the existing Tenancy.

Viewing - Strictly by appointment with the selling agents and by courtesy of the tenants with prior appointment.


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