£550,000
(£339.93/sq. ft)
Retail premises for sale17-18 Market Place, Newark NG24
1,618 sq. ft
Added on
Wood Moore & Co
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About this property
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 comprises a prime retail investment opportunity, situated in the Heart of Newark Market Place and is let to Starbucks at a passing rent of £40,000 pax.
Location
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.
Tenure
The Property is available freehold at a price of £550,000
Tenancies
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
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.
VAT
If applicable, VAT will be charged at the appropriate rate.
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