£2,500,000

Retail premises for sale

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£2,500,000

(£100.58/sq. ft)

Retail premises for sale

John Frost Square, Newport NP20

24,855 sq. ft

Local area information

Property location

Nearby amenities

  • St Woolos Primary School 0.2 miles
  • Maindee C.P. School 0.3 miles
  • Newport (South Wales) 0.3 miles
  • Newport (S Wales) Ferry Terminal 1.7 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

Investment Summary
• 24,855 sq ft retail and office building situated in the city centre
• Ground and lower ground floors (35%) to be let on an new 15 year Lease to
Monmouthshire Building Society
• Existing lease to Subway Realty Ltd
• 16,060 sqft vacant office accommodation with development potential (STP)
• Freehold
• Long Established head office location of mbs
• Long term secure income to excellent covenants
• Initial rent on sale completion of £123,000

Location
Newport covers an area of just over 73.5 square miles and
stands at the gateway between England and Wales with a
population of 145,700 (2011 Census) Newport is a vibrant, multi-cultural city steeped in a rich industrial heritage, where traditional industries sit alongside new electronics
and financial service sectors.
Newport is just 90 minutes from London by rail with
direct coach services from Heathrow and Gatwick
airports and other major centres and also lies adjacent
to the M4 motorway. Cardiff and Bristol international
airports are within an hour’s drive.

Situation
The property is situated in the main retail
core adjacent to the recently constructed
Friars Walk shopping mall, which hosts
a range of national and regional retailers
including H&M, Next and M&S Foods as
well as restaurants and other services, in
the heart of the city centre. Newport train
station lies less than a mile to the north
with junction 26 of the M4 motorway
approximately 2 miles to the north.

Tenant - Monmouthshire Building Society
Monmouthshire Building Society were founded over 150 years ago in
1869 as a mutual building society with 11 branches and 11 agency outlets
across South, West and Mid Wales as well as the South West of England.
Monmouthshire Building Society specialises in savings and mortgage
products as well as commercial and development funding across the UK.
Financial
As of August 2023 Monmouthshire Building Society (d-u-n-s No. Is described as having a “Low” overall business risk with a
D&B Rating of 5A1 and tangible net worth of £71,855,000.
Tenant - Subway Realty Ltd t/a Subway
subway is the world’s largest submarine sandwich
chain with more than 44,000 locations around the
world.
Financial
As of August 2023 Subway Realty Ltd (d-u-n-s No. Is described as having a “Low-Moderate”
overall business risk with a D&B Rating of N2 and
tangible net worth (£2,599,879).

Floor Lessee Accommodation Lease Details Current Rent P.A. Next Review/Reversion
Ground & Lower Ground Floor, Monmouthshire House; Ground &
First Floor, 4 Llanarth Street; Unit 1
(Former Job Centre)
Monmouthshire
Building Society
Part Ground, lower
ground and part first
floors - 8,091 sqft
A new 15 year lease
(with no break) will
be granted from
completion. Effective Fri
by way of service charge
Initial Rent
£105,000 per
annum
Upward only rent review year
5. Reversion 15 years from lease
commencement
Ground floor, Monmouthshire House Subway Realty
Ltd (co no.
04174473)
Part ground floor –
704 sqft
10 year lease from 28th
November 2018 (iri), renewal of original
lease dated 28th
November 2008
£18,000 per annum Rent review date 28th
November 2024. Option to
determine 28th November 2024
First Floor, Monmouthshire House Vacant First Floor -5,525sqft
Second floor, Monmouthshire House Vacant Second Floor – 5,919 sqft
Third Floor, Monmouthshire House Vacant Third Floor – 4,616 sqft
total 24,855 sqft £123,000 per annum

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