COMMERCIAL
Middle Gate, Newark, NG24 1AG
£400,000
- PROPERTY TYPE
Mixed Use
- BEDROOMS
4
- BATHROOMS
3
- SIZE
2,594 sq ft
241 sq m
Key features
- Fully Tenanted Investment
- Total Annual Income £41,900
- Yield of 10.47%
- Ground Floor Retail Plus 2 x 2 Bedroom Apartments Above
- Prominent High Street Building
- Dual Aspect Elevation
Description
A rare opportunity to acquire a prominent, income-producing mixed-use property in the heart of Newark town centre. The building comprises a ground-floor retail unit with two two-bedroom apartments arranged over the upper floors. All three elements are currently let, providing an established income stream from completion and making the property particularly attractive to investors seeking a diversified commercial and residential asset.
Occupying a highly visible corner position, 2 Middle Gate is an attractive and substantial town-centre property with frontage to two elevations. Its extensive glazed shopfront provides excellent street presence, strong visibility and plenty of natural light within the ground-floor accommodation.
The retail unit offers a spacious and well-presented trading area. The accommodation currently includes an open-plan customer area, service counter, modern flooring, suspended lighting and ceiling-mounted comfort cooling. Its prominent frontage and central position make it well suited to a range of retail or customer-facing businesses, subject to the existing tenancy and any necessary consents.
The upper floors contain two two-bedroom apartments, adding a valuable residential income stream to the commercial letting below. Their convenient town-centre position places residents within easy reach of shops, cafés, restaurants, services and transport connections. The combination of commercial and residential accommodation spreads the investment across different occupier types and reduces reliance upon a single source of income.
All parts of the property are currently occupied, allowing a purchaser to acquire an established investment without the initial void periods commonly associated with vacant mixed-use buildings. The three lettable elements provide a diversified rental profile within one property and offer a compelling opportunity for both experienced investors and purchasers seeking to expand into mixed-use property.
Middle Gate occupies a central position within Newark-on-Trent’s historic town centre, close to the Market Place and surrounded by a varied mix of independent businesses, national retailers, cafés and professional services. This accessible trading location benefits from activity generated by local residents, shoppers, workers and visitors throughout the town centre.
Newark is a well-established Nottinghamshire market town known for its historic architecture, traditional market, Newark Castle and strong independent retail offering. The town benefits from convenient access to the A1 and is served by Newark Castle and Newark North Gate railway stations, providing connections to Nottingham, Lincoln, London and other regional and national destinations.
The property’s fully let status, prominent corner position and combination of commercial and residential income are key attractions for a prospective purchaser. Its central location should support the continuing appeal of both the retail premises and apartments, while the existing tenancies provide immediate income. There may also be longer-term potential to review rents, leases and the use of the accommodation, subject to tenancy terms, planning requirements and all necessary consents.
The property is offered for sale as an investment with the existing tenants remaining in occupation.
TENURE - Freehold
VIEWINGS - Available 7 days a week, strictly by appointment and availability. Call to book your viewing .
LEASE INFORMATION
2 Middle Gate - Ground floor retail unit. Approx 97m2. Currently let at £26,000 per annum on 25 year lease from 19th July 2005.
2a Middle Gate - 2 Bedroom second floor apartment. Approx 69m2. Currently let at £650 pcm on APT.
2b Middle Gate - 2 Bedroom first floor apartment. Approx 75m2. Currently let at £675 pcm on APT.
Total annual income £41,900.
THE BORING BITS
MONEY LAUNDERING - We may ask for further details regarding your identification and proof of funds after your offer on a property. Please provide these in order to reduce any delay.
DETAILS - We endeavour to make the details and measurements as accurate as possible. However, please only take them as indicative only. Measurements are taken with an electronic device. If you are ordering carpets or furniture, we would advise taking your own measurements upon viewing.
SERVICES - No services have been tested by Buttercross Estates.
Occupying a highly visible corner position, 2 Middle Gate is an attractive and substantial town-centre property with frontage to two elevations. Its extensive glazed shopfront provides excellent street presence, strong visibility and plenty of natural light within the ground-floor accommodation.
The retail unit offers a spacious and well-presented trading area. The accommodation currently includes an open-plan customer area, service counter, modern flooring, suspended lighting and ceiling-mounted comfort cooling. Its prominent frontage and central position make it well suited to a range of retail or customer-facing businesses, subject to the existing tenancy and any necessary consents.
The upper floors contain two two-bedroom apartments, adding a valuable residential income stream to the commercial letting below. Their convenient town-centre position places residents within easy reach of shops, cafés, restaurants, services and transport connections. The combination of commercial and residential accommodation spreads the investment across different occupier types and reduces reliance upon a single source of income.
All parts of the property are currently occupied, allowing a purchaser to acquire an established investment without the initial void periods commonly associated with vacant mixed-use buildings. The three lettable elements provide a diversified rental profile within one property and offer a compelling opportunity for both experienced investors and purchasers seeking to expand into mixed-use property.
Middle Gate occupies a central position within Newark-on-Trent’s historic town centre, close to the Market Place and surrounded by a varied mix of independent businesses, national retailers, cafés and professional services. This accessible trading location benefits from activity generated by local residents, shoppers, workers and visitors throughout the town centre.
Newark is a well-established Nottinghamshire market town known for its historic architecture, traditional market, Newark Castle and strong independent retail offering. The town benefits from convenient access to the A1 and is served by Newark Castle and Newark North Gate railway stations, providing connections to Nottingham, Lincoln, London and other regional and national destinations.
The property’s fully let status, prominent corner position and combination of commercial and residential income are key attractions for a prospective purchaser. Its central location should support the continuing appeal of both the retail premises and apartments, while the existing tenancies provide immediate income. There may also be longer-term potential to review rents, leases and the use of the accommodation, subject to tenancy terms, planning requirements and all necessary consents.
The property is offered for sale as an investment with the existing tenants remaining in occupation.
TENURE - Freehold
VIEWINGS - Available 7 days a week, strictly by appointment and availability. Call to book your viewing .
LEASE INFORMATION
2 Middle Gate - Ground floor retail unit. Approx 97m2. Currently let at £26,000 per annum on 25 year lease from 19th July 2005.
2a Middle Gate - 2 Bedroom second floor apartment. Approx 69m2. Currently let at £650 pcm on APT.
2b Middle Gate - 2 Bedroom first floor apartment. Approx 75m2. Currently let at £675 pcm on APT.
Total annual income £41,900.
THE BORING BITS
MONEY LAUNDERING - We may ask for further details regarding your identification and proof of funds after your offer on a property. Please provide these in order to reduce any delay.
DETAILS - We endeavour to make the details and measurements as accurate as possible. However, please only take them as indicative only. Measurements are taken with an electronic device. If you are ordering carpets or furniture, we would advise taking your own measurements upon viewing.
SERVICES - No services have been tested by Buttercross Estates.
Middle Gate, Newark, NG24 1AG
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Newark Castle Station0.3 miles
- Newark North Gate Station0.5 miles
- Rolleston Station3.8 miles
Notes
These notes are private, only you can see them.
Disclaimer - Property reference BND-13911611. 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 Buttercross Estates, 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.