The Castlegate Centre occupies a prominent corner position at the busy junction of Castlegate and Lombard Street in the heart of the town centre. Castlegate forms part of Newark's established restaurant, café and bar circuit and is home to many good quality regional and national operators. It is close to the new Asda and bus station development which has created a new and vibrant hub of activity in the area. This development has further increased parking within walking distance of the Castlegate Centre.

Viewing is strictly by prior appointment via the agent P&F Commercial [use Contact Agent Button] or via [use Contact Agent Button]

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.

Freehold investment - for further information relating to the tenant schedule please contact or Offered for sale Freehold with an asking price of £1,800,000 plus vat.

UK Bowling Services LTD - 17,000 sq ft - Lease expires March 2029 - £52,000
Perys Bingo - 15,000 sq ft - Lease expires June 2025 - £35,000
Ground floor - Atrium bar - vacant - ERV - £30,000
2nd floor gym - 8 year lease from 2021 - £25,000
Kamal Shandari & Gita Banda (Everest Inn) 3085 sq ft - Lease expires December 2034 - £25,000
Vacant space 8,000 sq ft 1st Floor- Vacant - ERV £25,000

We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

Both Parties will be responsible for their own legal costs.

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.