A local estate agency in the Nottinghamshire town of Newark has brought to market a unique opportunity to transform a historic warehouse into an aparthotel or serviced apartments.
Richard Watkinson & Partners, which is based in Newark, is marketing the Grade-II listed Thorpes Warehouse which has planning consent for nine apartments over its five floors, in addition to office space.
The building, which is located on within the Millgate conservation area on Navigation Yard, benefits from a waterfront location.
Potential tenants will also have the benefit of a watertight structure, complete with lift shaft and the opportunity to input into the internal fit out of the 19th century former warehouse as the building is currently in shell format.
“At the moment, the building is a shell. The external works have been completed and the building is watertight, but internally it is a blank canvas,” said Kirsty Keeton, director at Richard Watkinson & Partners.
“Planning permission currently allows for nine apartments, plus reception offices and a gym, more apartments could be accommodated subject to gaining planning consent, so it could work in a couple of different ways for an occupier.
“This is a fantastic opportunity for a hotel or apartment operator looking to move into Newark to put their own stamp on the building, which benefits from an excellent location within the popular market town. Newark is seeing an increase in tourism from the world renowned Antique Fairs and National Civil War Centre – not to mention increasing numbers of national employers moving into the area. The town is also suffering from a current lack of hotel accommodation.”
The landlord will provide the apartments completed, with or without reasonable input from the prospective tenants and the leasehold is available at £100,000 per annum.