23-25 Lombard Street, Newark, Nottinghamshire, NG24 1XG
£195,000+
Investment
Key Features
- An opportunity to acquire a freehold three storey office investment property
- Located in the heart of Newark town centre
- Current Rent Reserved of £25,000 pa
Part of the
19 June 2025
auction
Trent Bridge Cricket Ground
at
2.30PM
An opportunity to acquire a freehold three storey office investment property located in the heart of Newark town centre. Current Rent Reserved of £25,000 pa
- Freehold three-storey office investment property
- Situated in the heart of Newark town centre
- Located in a prominent position on Lombard Street
- A short walk to a variety of amenities: shops, restaurants & pubs
- Close to Asda Supermarket, Travel Lodge & Bus station
- A 2-minute walk to Newark's Royal Market Place
- Near Newark North Gate Station, 1hr 13 mins train to London
- Less than 1 mile from Farndon Roundabout leading to the A46
- 20-minute drive to Lincoln & 35 minutes to Nottingham
- GF: Sales area, office & staff toilets (802 sq ft)
- Benefits from fully glazed frontage
- FF: Office & storage (414 sq ft)
- SF: 6 apartments which have been sold off on Long Leasehold
- Service charge payable of £2,916 pa
- Let on a 10 year IRI lease to Let It Ltd t/a Whitegates dated 23.11.23
- Whitegates have been in situ for over 20 years
- Current Rent Reserved of £25,000 pa
- An ideal investment opportunity
Contact Auction Estates on 0115 7844 600
Fees
A buyer's premium of £1,800 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased. The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.
Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.
Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Freehold subject to the existing IRI lease to Let It Ltd t/a Whitegates for a term of 10 years expiring November 2033 with a Current Rent Reserved of £25,000 pa
Refer to Legal Pack