Restaurant to rent

Restaurant Hospitality - Newark

£3,333 pcm
5,725 sq. ft.

Property Description

Commercial information

  • 5,725 sq ft (531 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.

DESCRIPTION
The Castlegate Centre occupies a prominent corner position at the busy junction of Castlegate and Lombard Street in the heart of the town centre. Castlegate forms part of Newark's established restaurant, café and bar circuit and is home to many good quality regional and national operators including Zizzi's. It is close to the new Asda and bus station development which has created a new and vibrant hub of activity in the area. This development has further increased parking within walking distance of the Castlegate Centre.

ACCOMMODATION
5,725 Sq Ft with fitted Kitchen and open plan Bar area

AMENITIES
Located in the centre of the Market town of Newark and close to all local shops and offices, with good road access links, walking distance to the railway station, approximately 10 minutes on foot.

SERVICES
We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

TERMS
A new FRI lease of 5 years will be created with specific terms to be agreed. The rent is set at £40,000 plus VAT per annum for Year 1, £45,000 plus VAT per annum for Year 2 and £50,000 plus VAT per annum from Year 3.

OUTGOINGS
The VOA website shows the Rateable Value to be £66,500

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
A limited number of staff parking spaces may be available off the service yard.

OTHER
P & F Commercial is the trading name of F & P Partners Ltd and was formerly known as Moores Commercial. All emails sent to Moores Commercial will be forwarded to P & F Commercial and all data held by F & P Partners Ltd. will remain unchanged by the rebrand.

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 102091001179. 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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