Property photos
Under offer
Offers in region of
£750,000
(£120.98/sq. ft)
Office for sale
Langstone Business Village, Newport NP186,199 sq. ft
Local area information
Property location
Nearby amenities
- Milton Primary School 0.7 miles
- St Gabriel's R.C. Primary School 1.1 miles
- Newport (South Wales) 3.6 miles
- Newport (S Wales) Ferry Terminal 3.7 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
Location
The subject property is situated on Langstone Business Village, a
popular business park situated close to Junction 24 of the M4
motorway, within a short driving distance of the Celtic Manor Resort, the International Convention Centre and within 5 miles of Newport
City Centre.
Cardiff: 16.6 miles
Bristol: 26.4 miles
Description
The subject property comprises a detached modern two storey
office building with facing brick elevations and powder coated
aluminium double-glazed fenestration beneath a pitched artificial
slate covered roof.
Internally the property has been recently renovated and re-fitted at
significant expense to accommodate Newport Coroners Court
which currently occupies the property.
Externally there is car park with approximately 32 car spaces. The
site area extends to approximately 0.8 acres (0.322 ha).
Accommodation
The property comprises the following Net Internal Floor Area:
Floor
Sq. M.
Ground
286.97 sq. M.
Sq. Ft.
First
3,089 sq. Ft.
288.93 sq. M.
Total
3,110 sq. Ft.
575.90 sq. M.
Tenure & tenancies
6,199 sq. Ft.
Freehold subject to occupational lease in favour of Newport City
Council dated 27th March 2024.
The property is let for a term of 10 years from 27th March 2024 to
27th March 2034 at a fixed rent of £58,000 per annum without rent
review with a tenant only break end of year 5. A copy of the lease is
available on request.
The passing rent equates to £9.35 per sq. Ft which we believe to be
reversionary in the prevailing market.
Asking price
£750,000
The asking price represents a Gross Initial Yield of 7.73% (7.31% niy
with purchasers’ costs at 5.75%).
Planning and development
The property was purposely built as offices in the 1990’s and it is
assumed that the property to this time has been used lawfully and
continues to be used lawfully in its current use as a coroners court.
Interested parties are advised to make their own enquiries in this
regard.
Method of sale
The property is offered for sale via private treaty.
Local authority
Newport City Council.
Energy performance certificate
The property has an energy performance rating of B – 41. A copy of
the EPC is available on request.
Business rates
Rateable Value 22nd April 2024 – present £56,000.
Legal costs
Each party will be responsible for their own legal and
professional costs incurred in the transaction.
Further information
Please view our website or Zoopla for more
photographs and specific information relating to the
property. Also, title documentation, tenancy details, additional photos and a copy of the EPC are available
upon request. Viewing is strictly by appointment.
The subject property is situated on Langstone Business Village, a
popular business park situated close to Junction 24 of the M4
motorway, within a short driving distance of the Celtic Manor Resort, the International Convention Centre and within 5 miles of Newport
City Centre.
Cardiff: 16.6 miles
Bristol: 26.4 miles
Description
The subject property comprises a detached modern two storey
office building with facing brick elevations and powder coated
aluminium double-glazed fenestration beneath a pitched artificial
slate covered roof.
Internally the property has been recently renovated and re-fitted at
significant expense to accommodate Newport Coroners Court
which currently occupies the property.
Externally there is car park with approximately 32 car spaces. The
site area extends to approximately 0.8 acres (0.322 ha).
Accommodation
The property comprises the following Net Internal Floor Area:
Floor
Sq. M.
Ground
286.97 sq. M.
Sq. Ft.
First
3,089 sq. Ft.
288.93 sq. M.
Total
3,110 sq. Ft.
575.90 sq. M.
Tenure & tenancies
6,199 sq. Ft.
Freehold subject to occupational lease in favour of Newport City
Council dated 27th March 2024.
The property is let for a term of 10 years from 27th March 2024 to
27th March 2034 at a fixed rent of £58,000 per annum without rent
review with a tenant only break end of year 5. A copy of the lease is
available on request.
The passing rent equates to £9.35 per sq. Ft which we believe to be
reversionary in the prevailing market.
Asking price
£750,000
The asking price represents a Gross Initial Yield of 7.73% (7.31% niy
with purchasers’ costs at 5.75%).
Planning and development
The property was purposely built as offices in the 1990’s and it is
assumed that the property to this time has been used lawfully and
continues to be used lawfully in its current use as a coroners court.
Interested parties are advised to make their own enquiries in this
regard.
Method of sale
The property is offered for sale via private treaty.
Local authority
Newport City Council.
Energy performance certificate
The property has an energy performance rating of B – 41. A copy of
the EPC is available on request.
Business rates
Rateable Value 22nd April 2024 – present £56,000.
Legal costs
Each party will be responsible for their own legal and
professional costs incurred in the transaction.
Further information
Please view our website or Zoopla for more
photographs and specific information relating to the
property. Also, title documentation, tenancy details, additional photos and a copy of the EPC are available
upon request. Viewing is strictly by appointment.
More information
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