Restaurant to rent

7,700 Sq Ft FF Space Newark Town Centre

£2,917 pcm
7,706 sq. ft.

Property Description

Commercial information

  • 7,706 sq ft (715 sq m)

Full description

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 all included - a small premium to assign the equipment will be charged at £20,000.

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 ).

VIEWING
Viewing is strictly by prior appointment via the sole agents P & F Commercial Tel: or via email


More information from this agent

Nearest stations

  • Newark Castle (0.3 mi)
  • Newark North Gate (0.7 mi)
  • Rolleston (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

P&F, Commercial

4 Melton Road, Whissendine, Oakham, Rutland, LE15 7EU

01664 900004 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Newark Castle (0.3 mi)
  • Newark North Gate (0.7 mi)
  • Rolleston (3.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

P&F, Commercial

4 Melton Road, Whissendine, Oakham, Rutland, LE15 7EU

01664 900004 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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Property reference 102091000632. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by P&F, Commercial.

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