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Agent's details

Flying Circus - Investment for sale, 53 Castle Gate, NG24

For sale: £325,000.00|6,000 Sq Ft|Leisure Property, Licensed & Leisure

Property details

FOR SALE£325,000.00
SIZE6,000 Sq Ft
ADDRESSFlying Circus - Investment for sale, 53 Castle Gate, Newark, NG24 1BE
TYPELeisure Property, Licensed & Leisure
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th May 2024

Description

Key Points

  • 10 year lease (no Breaks)
  • Rental increasing from £26k to £30k over 5 years
  • Long established tenant
  • Guide price £325k
  • Finance available subject to status
  • Summary

    Public House investment for sale

    Newark on Trent Town Centre location

    Description

    The Flying Circus is a well established business in the Centre of Newark. The tenants have been in occupation for over 10 years, with a new 10-year lease being renewed from June/July 2024.
    The building is a 2 storey brick built property under a pitched tile roof, with single storey elevation to the rear, and large beer courtyard.

    Location

    The historic market town of Newark, with a catchment of over 150,000, is located approximately 16 miles south west of Lincoln, 17 miles north east of Nottingham and 13 miles north west of Grantham. The town is located at the junction of the A1, A46 and A17 and is situated on the East Coast Main Line railway. It is well known for its market, which is surrounded by attractive Georgian buildings. This, coupled with its Castle and strong reputation for antiques and antiquities, ensures it is popular with both residents and visitors.

    Viewings

    Viewing is strictly by prior appointment via the sole agents P&F Commercial Tel: 01664 431330 or via email office@pandfcommercial.com

    Terms

    Offered for sale freehold and subject to the tenant.
    A new 10- year lease is being put in place on fully repairing and insuring terms (excluding roof replacement).
    Year 1 rent = £26,000
    Year 2 rent = £27,000
    Year 3 rent = £28,000
    Year 4 rent = £29,000
    Year 5 onwards = £30,000

    Availability_text

    The accommodation comprises the following areas:

    Location

    marker
    Location: Flying Circus - Investment for sale, 53 Castle Gate, Newark, NG24 1BE

    Newark Castle (0.4 miles)

    Newark North Gate (0.6 miles)

    Rolleston (3.5 miles)

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