Property photos
Just added
Freehold
£95,000
Retail premises for sale
7-8, Commercial Street, Newport, Newport NP20Local area information
Property location
Nearby amenities
- St Woolos Primary School 0.2 miles
- Newport (South Wales) 0.2 miles
- St Mary's R.C. Primary School 0.3 miles
- Newport (S Wales) Ferry Terminal 1.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
Bidding opens Monday 23rd June 2025 at Midday and closes Wednesday 25th June 2025 at Midday.
City Centre Investment/Potential Development Opportunity
An opportunity to acquire a substantial Grade II listed 11,523 sqft/1,070.49 Sqm building on the pedestrianised section of the main high retail street alongside a number of National and local retailers. The property provides an attractive investment opportunity currently generating £11,500 per annum through the ground floor being leased by the tenant at £10,000 per annum, with the upper three floors and basement generating £1,500 per annum and let on a long lease to Sports Retail Ltd. We also understand that terms have been agreed for the ground floor to be let at £20,000 per annum, to Luxury Leisure T/A Admiral for a 10 year terms, details of which will be available within the legal pack.
In our opinion, there are a number of future redevelopment options subject to contract and planning. We understand that Sports Direct have a lease on the upper floors but are not in occupation and therefore may be an option to acquire the return of the long lease from them.
The unit sits in a prominent position within close proximity to the junction of Commercial Street and Stow Hill. New developments in the vicinity have included Newport Food Market, Mercure Hotel and the Chartist Tower conversion to residential apartments.
Accommodation (measurements provided by a third party and would advise any interested parties to carry out their own measurements) Ground Floor (Advised Approximately 251.85sqm/2,711 sqft)
First Floor (Advised Approximately 407.09sqm/4382sqft)
Second Floor (Advised Approximately 411.55sqm/4430 sqft)
Third Floor (No measurements available)
Tenancies Currently generating £11,500 per annum. Soon to be increased to £21,500 per annum, with heads of terms agreed as set out above. (please confirm further lease details held within the legal pack).
Viewing Schedule / Further Information Auction House Wales Tenure Freehold
VAT VAT is payable on this purchase of this property.
Tenure: See Legal Pack
EPC Rating: C
City Centre Investment/Potential Development Opportunity
An opportunity to acquire a substantial Grade II listed 11,523 sqft/1,070.49 Sqm building on the pedestrianised section of the main high retail street alongside a number of National and local retailers. The property provides an attractive investment opportunity currently generating £11,500 per annum through the ground floor being leased by the tenant at £10,000 per annum, with the upper three floors and basement generating £1,500 per annum and let on a long lease to Sports Retail Ltd. We also understand that terms have been agreed for the ground floor to be let at £20,000 per annum, to Luxury Leisure T/A Admiral for a 10 year terms, details of which will be available within the legal pack.
In our opinion, there are a number of future redevelopment options subject to contract and planning. We understand that Sports Direct have a lease on the upper floors but are not in occupation and therefore may be an option to acquire the return of the long lease from them.
The unit sits in a prominent position within close proximity to the junction of Commercial Street and Stow Hill. New developments in the vicinity have included Newport Food Market, Mercure Hotel and the Chartist Tower conversion to residential apartments.
Accommodation (measurements provided by a third party and would advise any interested parties to carry out their own measurements) Ground Floor (Advised Approximately 251.85sqm/2,711 sqft)
First Floor (Advised Approximately 407.09sqm/4382sqft)
Second Floor (Advised Approximately 411.55sqm/4430 sqft)
Third Floor (No measurements available)
Tenancies Currently generating £11,500 per annum. Soon to be increased to £21,500 per annum, with heads of terms agreed as set out above. (please confirm further lease details held within the legal pack).
Viewing Schedule / Further Information Auction House Wales Tenure Freehold
VAT VAT is payable on this purchase of this property.
Tenure: See Legal Pack
EPC Rating: C
More information
Listed by
Auction House South Wales Newport
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