- Freehold Commercial/Residential Property Investment
- Ground Floor Class E Use, 760 sq.ft
- First Floor Self-Contained Flat
- Densely Populated Catchment Area
- Gross Rental Income Potential �23,000 per annum
- Potential Gross Yield 9% Approximately
- EPC Ratings C and E
Commercial Property for sale in Newark
A freehold investment comprising ground floor Class E retail/salon use and a first floor self-contained two bedroomed flat. The property is currently let to produce a gross income of �23,292 per annum exclusive. The property is substantially built and well maintained. The roof has been recently overhauled with a rubber compound coating. Whilst relocating to smaller premises the hairdressers have been in occupation for many years as were previous hairdresser occupants providing a long established service and successful business.
A freehold investment comprising ground floor Class E retail/salon use and a first floor self-contained two bedroomed flat. The property was previously let to produce a gross income of �23,292 per annum exclusive. The property is substantially built and well maintained. The roof has been recently overhauled with a rubber compound coating. Whilst relocating to smaller premises the hairdressers have been in occupation for many years as were previous hairdresser occupants providing a long established service and successful business.
The salon provides 661 sq.ft plus first floor staff room. The flat provides lounge, kitchen, two bedrooms and a bathroom. There is communal parking within the frontage area of the parade of shops.
The property provides the following accommodation:
Ground Floor -
Salon/Sales - (Frontage 18' x total depth 18'10 plus 10'8 additional width)
Suspended ceiling, fluorescent lighting, tiled floor, three night storage heaters, three wash basins each with electric showers. Fixed work surface, island unit with electrics, glazed front window and front entrance door.
Kitchen - 4.72m x 1.50m (15'6 x 4'11) - Base unit, sink unit and shelving. Elson hot water heater, plumbing for a washing machine.
Separate Wc - With close coupled WC and basin (cold tap only). Door to lobby and rear entrance door with night storage heater.
Storage Room - 3.18m x 2.34m (10'5 x 7'8) - (plus 5'4 x 4'2)
Rear Extension - Door to Lobby.
Stairs To First Floor -
First Floor -
Landing -
Kitchen - 4.32m x 1.68m (14'2 x 5'6) - Base units and wall cupboards, stainless steel sink unit, electric heater.
Lounge - 3.23m x 3.43m (10'7 x 11'3) - Gas heater.
Bedroom Two - 2.46m x 2.59m (8'1 x 8'6) - (plus 5'4 x 4'1)
Bedroom One - 3.07m x 3.23m (10'1 x 10'7) - Gas convector heater.
Bathroom - 2.36m x 2.16m (7'9 x 7'1) - Bath, electric shower, low suite WC, pedestal basin.
Services - Mains water, electricity, and drainage are all connected to the property.
Tenure - The property is freehold, subject to an existing Assured Shorthold Tenancy on the flat. The existing hairdresser's lease expires August 2025.
Viewing - Strictly by appointment with the selling agents.
Property Ref: 59503_34189767
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Richard Watkinson & Partners (Newark)
25 Stodman Street, Newark, Nottinghamshire, NG24 1AT
01636 611811
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