17-18 Market Place, Newark, NG24 1EA
Size
1,618
Tenure
Freehold
EPC
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Parking
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Spaces
1
Key features
- Prime Retail Unit on the Market Place
- Let to Starbucks at £40,000 pax
- NIY of 7.0% after purchaser costs
- 4.5 years to break and 9.5 years to expiry
- Freehold
- 18m glazed frontage
- Upper floors sold off on 125 year leases from 2007.
Description
The Property occupies arguably the most prominent and desirable retail position in Newark, benefiting from an 18m frontage directly on to the Market Place.
Newark is an historic and thriving market town in Nottinghamshire. Renowned for its attractive Georgian architecture and rich heritage, Newark offers a vibrant blend of independent retailers, national operators, cafés, and leisure uses, all centered around the bustling Market Place.
The town benefits from strong transport connectivity, with direct rail services to London, Nottingham, and Lincoln, as well as excellent road links via the A1, A46, and A17, making it highly accessible for both commuters and visitors. Newark North Gate station provides a particularly strong draw, with journey times to London King’s Cross of approximately 75 minutes.
The Property is available freehold at a price of £550,000
The Property is being sold subject to existing tenancies.
The ground floor retail accommodation is let on a secure 10 year lease from 1st August 2025 at an annual rent of £40,000 pax. The lease is subject to an upward only rent review and break option up on the 5th anniversary of the lease.
The upper floors comprise of 5 residential apartments that have been sold off on a single 125 year long lease from 2007 and at a Peppercorn Ground Rent of £250 pa.
The Investment will provide a Net Initial Yield in the region of 7.0% after allowing for suitable purchaser costs. .
The Property is let at £40,000 pax to Soul Coffee House (Central) Limited, T/a Starbucks who provide an excellent covenant and form part of the Soul Foods Group brand and ultimate holding company being Supernova Jersey Holdco LTD. There is an additional £250 pa income from the long leasehold ground rents.
If applicable, VAT will be charged at the appropriate rate.
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Brochure
17-18 Market Place, Newark, NG24 1EA
About Wood Moore & Co Ltd , Newark
Wood Moore & Co is an East Midlands based independent firm of Chartered Surveyors and Commercial Property Consultants established nearly 25 years ago. Combining wider expertise with strong local & regional knowledge, and led by a team of dedicated professionals who are long-established in the local property market throughout Nottinghamshire and Lincolnshire, with particular emphasis on commercial property in Newark, Grantham and Lincoln. Wood Moore & Co. are a multi-disciplined practice with integrated expertise in the commercial estate agency, property management and professional service sectors.
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Disclaimer - Property reference 361303-1. 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 Wood Moore & Co Ltd , Newark. 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.