Commercial building with planning for sale in Newark

This property is marketed by:
WA Barnes

Property Details

Prospect House comprises a modern two-storey block of offices with planning consent.

Phase 1 - Prospect House has planning consent for 17 Apartments
Phase 2 - The car park has planning consent for 2 blocks providing 26 Apartments

The Apartments vary in size from 53.2 sq.m. to a maximum of 78.2 sq.m.

The premises currently provide a floor area of 1266.75 sq.m. (13635 sq.ft.) and have the advantage of air-conditioning and a very large car park. The total site area is 1.582 acres.

Offers are sought in the region of £520,000 for Prospect House and £525,000 for new build Apartment Phase 2.

LOCATION

Prospect House is situated on the junction of Edison Rise and Latimer Way forming the entrance to the Sherwood Energy Village which is developed with a mix of residential and commercial units. The Energy Village is situated between Ollerton Road, Back Lane/Wellow Road and off Forest Road which is one of the principal shopping thoroughfares in the village.

Ollerton is a large village serving a population of just under 10,000 and provides a wide range of facilities including a Tesco supermarket which is almost opposite the subject site, a wide range of shops including an Asda, schools and regular bus services to Nottingham and Worksop.

There is good road access via the A614 to the A1 to the North, and via the A6075 to the A1 at Tuxford to the north-east. There is also good road access to Junctions 30 and 31 of the M1 Motorway via the A57 and the A619 .

DESCRIPTION

Prospect House is an L-shaped building constructed of imitation stone blocks with cedar cladding under a mono pitched roof. The property was originally built for Risk Disk Limited who were subsequently acquired by Experian and they occupied the offices and car park for approximately 10 years or so.

The premises provide 13,635 sq ft of offices with kitchen, storerooms etc and have planning consent for 17 apartments in Phase 1.

Phase 2 of the planning consent includes the construction of an L-shape 3 storey block with 18 apartments and a separate two storey block with 8 apartments.

A copy of the Design and Access Statement and Newark & Sherwood District Council's Decision Notice are available from the Agents.

SERVICES

Mains water, electricity and drainage are connected to the property.

PURCHASE PRICE

Offers are sought in the region of GBP520,000 for Prospect House and GBP525,000 for the new build Apartment Block B

PLANNING

Planning consent has been granted for:

Phase 1 - Prospect House Ground Floor: 5x 1 bedroom Apartments and 4x 2 bedroom Apartments; First Floor: 4x 1 bedroom Apartments and 4x 2 bedroom Apartments.

Phase 2 - Car Park: Construction of 2 blocks, one 3 storey high providing 18 Apartments and an attached 2 storey high block providing 8 Apartments.