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UNDER OFFER

Mayden Park, Northern Road, Newark, NG24 2EU

Offers in Region of
£2,600,000

£123.36 per sq ft

Business rates & charges may apply

Savills, Nottingham
SIZE AVAILABLE

21,076 sq ft

1,958 sq m

SECTOR

Commercial property for sale

USE CLASSUse class orders: B1 Business and B2 General Industrial

B1, B2

Key features

  • Securely let to seven occupational tenants
  • Prominent roadside position fronting Northern Road
  • Within walking distance of Newark Northgate mainline railway station
  • Re-positioning / redevelopment opportunity for alternative uses, subject to planning permission
  • Total passing rent £206,625 per annum plus service charge
  • Low building to site density of only 28%, extending to 2.59 acres (1.05 hectares)
  • Offers are invited at £2,600,000, for the freeholdinterest, subject to contract and exclusive of VAT
  • A purchase at this level would reflect a net initialyield of 7.79% (£118.00 per sq ft including 1.02 acres (0.41 hectares) compound, after allowing for standard purchaser’s costs)

Description

Description
The property comprises a former railway sidings building of Victorian brickwork construction pitched in two bays under corrugated asbestos cement sheet covered roof supported on light steel trusses and an eaves height to the underside of the truss of approximately 6.327m (21’).
As part of a refurbishment, the property has been partially over clad in composite colour coated profile steel cladding and now incorporates attractive two storey offices fronting Northern Road.
There is a substantial gated yard located to the side onto which seven level access sectional loading doors open, together with two further roller shutter doors to the rear, and two sectional loading doors to the elevation fronting Northern Road, both of which benefit from their own yard areas.
The property has been sub-divided to create several units all finished to a similar specification, including sectional concrete floors, painted brick walls, overhead LED lighting and AmbiRad heating together with ancillary works offices.
The two storey offices are finished to a high specification and accessed via powder coated aluminium framed double doors leading through to a communal reception, kitchen, male / female and disabled WCs.
At ground floor, the accommodation is configured to provide three suites all finished to a similar specification including suspended acoustic tile ceilings with recessed LED lighting panels, plastered and painted walls, Mitsubishi air handling units, carpeted or lino covered concrete floors and CCTV.
The first floor is accessed via a steel staircase and provides a further three suites and conference room. The offices also incorporate wall mounted Mitsubishi air handling units.
The property benefits from extremely generous yardage, the compound on the northern boundary let to J N Key Logistics Limited, extending to approximately 1.02 acres (0.41 hectares) and in total providing a low building to site density of only 28%.

Location
The property occupies a prominent position fronting Northern Road, the principal spine road running through the Northern Road Industrial Estate.
This is an established trade counter location with neighbouring occupiers including The Range, City Electrical Factors, NSK UK Limited, Blueprint Gaming, SMC Motorhomes, Turnbull and Halfords Auto Centre, to name but a few.

Brochures

Mayden Park, Northern Road, Newark, NG24 2EU

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Newark North Gate Station0.2 miles
  • Newark Castle Station0.7 miles
  • Rolleston Station4.4 miles

About Savills, Nottingham

Standard Court Park Row Nottingham NG1 6GN

Notes

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Disclaimer - Property reference 290032-1. 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 Savills, Nottingham. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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