£150,000

Retail premises for sale

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£150,000

(£118.39/sq. ft)

Retail premises for sale

Commercial Street, Newport NP20

1,267 sq. ft

Local area information

Property location

Nearby amenities

  • St Woolos Primary School 0.1 miles
  • Maindee C.P. School 0.3 miles
  • Newport (South Wales) 0.4 miles
  • Newport (S Wales) Ferry Terminal 1.6 miles

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

Features and description

  • Retail Investment for Sale
  • Located in Newport City Centre
  • Let to St Vincent de Paul Society until August 2006
  • Potential Asset Management Opportunities
  • In excess of 1,267 sq ft (117.68 sq m)
  • Quoting £150,000 exclusive
Location

The City of Newport is located in a prime strategic location close to
the border of England and Wales. It benefits from excellent access to
the M4 motorway and wider motorway network and provides regular
train services to London Paddington. The City has an immediate
population of approximately 137,000.

The property is located in the heart of Newport City Centre at the end
of the pedestrianised part of Commercial Street. Nearby Occupiers
include Kaspas, Primark, Scope and Betfred.
Description

The property comprises ground floor retail accommodation, with three
upper floors providing storage space along with basement space.
Access to the property is single door from the front and via a staircase
at the rear.

The ground floor benefits from carpeted floors, wall mounted heaters, CCTV and suspended ceilings with recessed cat ll and LED lighting.
The first floor benefits from a feature bay windows to the front looking
over Commercial Street. There is a separate kitchen area and WC
facilities on the second floor.

There is the possibility for the upper floors to be used as offices or
residential in the future, subject to planning.
The property benefits from rear access with parking for 2 – 3 cars.
Tenancies

The property is currently let to St Vincent de Paul Society for a period
of 10 years ending on 30th August 2026. The current rent is £14,000
per annum exclusive. The tenant is responsible for internal repairs
and insurance and the lease is contracted out of the Landlord &
Tenant Act 1954 (s.24-28)
Accommodation

Basement Not measured
Ground Floor 57.66 sq m (621 sq ft)
First Floor 38.51 sq m (415 sq ft)
Second Floor 21.51 sq m (232 sq ft)
Third floor Not measured
Planning

We understand that the property benefits from planning consent for
retail use. However, we recommend that interested parties make their
own enquiries to the local authority.
Rating assessment

Rateable value: £8,700
rates payable: £4,654.50
Tenure

We understand that the property is held freehold. We are seeking
offers in excess of £150,000.

More information

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