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Residential Development, 137-139 Newgate Lane & 1 Gladstone Street, Mansfield, NG18 2LG

not specified / Land / Residential

For Sale - £220,000.00

Under Offer - Last updated: 19 July 2022

The existing premises comprise partially rendered stone and slate social club with bedsit, a lock‐up shop with flat above and an end terraced house on Gladstone Street together with a vacant area of land between 139 Newgate Lane and 3 Gladstone Street. The plans submitted for the pre‐application advice show the construction of stone and slate flats with a flat 'drive through' arch leading to 5 car parking spaces, dustbin storage area and amenity land.

Location

The subject property is situated on the corner of Newgate Lane and Gladstone Street and comprises a social club and lockup shop with flat above and separate living accommodation and a vacant area of land which is on Gladstone Street.
 
The premises are within easy walking distance from the centre of Mansfield which provides excellent facilities including a wide range of shops, The Four Seasons Shopping Centre, Retail and Leisure Parks, Water Meadows Swimming Complex etc. The town has regular bus and train services to Nottingham and Worksop and has good road access to Junctions 28 and 29 of the M1 Motorway.

Accommodation

The existing Club and corner shop are to be converted into 2x 1 bedroom and 1x 2 bedroom ground floor flats, each with Lounge, Kitchen, Bathroom and Entrance Hall/Lobby, . At first floor level there will be 3 flats, with a similar layout with Living Kitchen, bedroom and bathroom but one will have an ensuite Bathroom.
 
No.1 Gladstone Street is to be converted into a ground floor one bedroomed flat with a bathroom and a Lounge, Kitchen. A communal staircase leads to the first floor flat comprising a Living Kitchen, a Bathroom and one bedroom.
 
There will be access through an arch to the rear community area and five car parking spaces. Over the arch there will be a two bedroomed flat with Living Kitchen and Bathroom.

Terms

OFFERS IN THE REGION OF: £220,000
 
TENURE
The Social Club is still trading. The flat is occupied with a rental income of £4,200 per annum and the garages are rented producing an income of £2,080 per annum.
 
The property is for sale as a going concern or with vacant possession on completion.
 
PLANS
Copies of the plans of both the proposals are available for inspection from the Agents Offices together with a copy of the pre‐application Advice being sought from Mansfield District Council.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Offers in the region of For Sale Freehold £220,000.00 NA

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Fiona Froggatt

WA Barnes LLP

01623 240175



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