50 Carolgate, Retford, Nottinghamshire, DN22 6DY

LOCATION
The property is located along Carolgate which is a pedestrianised area in the town centre and the principle shopping street of Retford. The wider area comprises a typical town centre with a variety of shops, commercial units, cafés and restaurants and professional services. Retford is a growing market town with a current population of approximately 25,000 and benefits from great connectivity with the A1 Great North Road close by as well as The East Coast Mainline Railway running through, linking it to London and the North.

DESCRIPTION
This substantial retail premises comprises a main sales area on the ground floor with ancillary storage, kitchen and W.C on the first floor. The unit benefits from a suspended ceiling with recessed lighting and a prominent shop frontage onto busy Carolgate.

TENANCY INFORMATION
50 Carolgate is let to Aman Gadgets Limited on a 5 year full repairing and insurance lease commencing on the 6th November 2023 at a current passing rent of £18,000 plus VAT per annum. The lease is contracted outside the Landlord & Tenant Act 1954. There is a fixed rent review to £22,000 plus VAT per annum and tenant break option on the 6th November 2026. Please contact the agent for a copy of the lease.

ACCOMMODATION
We have calculated the net internal floor area to be as followed;

Ground Floor- 142.33 sq m (1,532 sq ft)
First Floor- 43.18 sq m (465 sq ft)

Total NIA- 185.51 Sq m (1,997 Sq ft)

SERVICES
We understand that mains electricity, water and drainage are connected. None of the heating systems or any other plant and equipment have been tested by Commercial List and prospective purchasers must rely on their own investigations as to their existence and condition.

BUSINESS RATES
From enquiries made though the Valuation Office website, we understand that the following rating assessment applies;

Rateable value: £23,750

Interested parties should make their own enquiries as to the amount of rates payable.

TERMS
The property is FOR SALE freehold subject to the current tenancy in place at an asking price of £190,000 plus VAT.

EPC
Energy rating: C

VAT
Although the property is elected for VAT the sale can be treated as a TOGC and therefore VAT would not be payable on the purchase price.

LEGAL COSTS
Each party to pay their own legal costs incurred.