London Road, Balderton, Newark

A freehold dental surgery investment let to produce an income of £15,000 per annum. The existing tenants have long term occupation and the lease has 9 years unexpired. The lease terms provide for the tenants full repairing liability and payment of the building insurance. There is a rent review in 2029.

The property comprises a substantial 1930s built detached two storey building with part rendered elevations under an interlocking tiled roof. A substantial extension with a flat roof was built circa 1990. The premises are altered and adapted as dental surgeries.

The property is situated on London Road with return frontage, vehicular access and off street parking on the premises from Hawton Lane.

Balderton is a highly populated urban area now incorporating the separate Parish of Fernwood. Local amenities include a medical centre, supermarkets, primary and secondary schools. Newark on Trent is a sizeable market town with a residential population of 29,748 approximately together with a catchment area giving a population of 113,000. The town is placed reasonably centrally in the UK and well located for access to the A1 and A46 trunk roads. Newark is on the main East Coast railway line with rail services to London and Edinburgh. Journey times between Newark and London King's Cross are just over 75 minutes.

The property is let to Oasis Dental Care (Southern) Ltd within the BUPA dental care organisation. The following accommodation is provided:

Ground Floor -

Reception - 5.05m x 4.70m (16'7 x 15'5) - (overall measurements including the built in cupboard)

UPVC front entrance door, fluorescent lighting, Mitsubishi invertor unit.

Inner Hall - With x-ray cupboard and cupboard under the stairs. Fire exit door.

Ladies And Gents Toilets -

Surgery One - 3.66m x 3.43m (12' x 11'3) - Fluorescent lighting, fitted units and Fujitsu air conditioning unit. Radiator.

Surgery Two - 3.66m x 3.61m (12' x 11'10) - Bay window, fitted units, radiator. Fujitsu air conditioning unit, built in cupboard, radiator.

First Floor -

Landing Area -

Staff Toilets - With radiator.

Decontamination Room - 3.33m x 2.21m (10'11 x 7'3) - Working surface, twin bowl sink unit, fluorescent lighting.

Surgery Three - 3.71m x 3.58m (12'2 x 11'9) - Fitted units, radiator and fluorescent lighting.

Practice Managers Office - 2.13m x 2.13m (7' x 7') - (approximately)

Locker Room - 2.74m x 0.91m (9' x 3') - With stainless steel sink unit.

Outside - There is a gravelled parking area in the frontage of the property with approximately four motor car parking spaces. Patient's parking provides at least 5 motor car spaces plus disabled.

Lease Terms - The property is let to Oasis Dental Care (Southern) Ltd incorporated with BUPA Dental Care.

Annual Rent - £15,000 per annum.

Contractual Term - A term of 10 years from and including 4th March 2024 and including 4th March 2034.

Rent Review - 5th March 2029

Break Option - The fifth anniversary of the lease term commencement date.

Insurance - The tenant is responsible for building insurance.

Fixtures And Fittings - A wide range of the specialist dental equipment and air conditioning units are the tenant's ownership.

Rateable Value - The tenant is responsible for paying the rates. The current rateable value 1st April 2023 to present is £9300.

Vat - We understand the building is not elected for VAT.

Services - Mains water, electricity and drainage are all connected to the property.

Tenure - The property is freehold.

Viewing - Strictly by appointment with the selling agents.

Mortgage - Mortgage advice is available through our Mortgage Adviser. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.