Retail premises for sale in Commercial Street, Newport NP20, £150,000
150,000.00
Offer Nr.:
65540898
Type of ad:
for Sale
Property type:
Retail premises
Contact name:
M4 Property Consultants
Phone(s):
01633 371863
Email:
* Retail Investment for Sale
* Located in Newport City Centre
* Let to St Vincent de Paul Society until August 2006
* Potential Asset Management Opportunities
* In excessof 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 andWales. It benefits from excellent access to
the M4 motorway and wider motorway network and provides regular
train services to London Paddington. The City has animmediate
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 providingstorage 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 carpetedfloors, 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 frontlooking
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 asoffices or
residential in the future, subject to planning.
The property benefits from rear access with parking for 2 – 3 cars.
**Tenancies**
The property is currentlylet 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 forinternal 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. 66sq 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 benefitsfrom planning consent for
retail use. However, we recommend that interested parties make their
own enquiries to the local authority.
**Rating assessment**
Rateablevalue: £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.
* Located in Newport City Centre
* Let to St Vincent de Paul Society until August 2006
* Potential Asset Management Opportunities
* In excess
* Quoting £150, 000 exclusive
**Location**
The City of Newport is located in a prime strategic location close to
the border of England and
the M4 motorway and wider motorway network and provides regular
train services to London Paddington. The City has an
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.
include Kaspas, Primark, Scope and Betfred.
**Description**
The property comprises ground floor retail accommodation, with three
upper floors providing
Access to the property is single door from the front and via a staircase
at the rear.
The ground floor benefits from carpeted
suspended ceilings with recessed cat ll and LED lighting.
The first floor benefits from a feature bay windows to the front
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
residential in the future, subject to planning.
The property benefits from rear access with parking for 2 – 3 cars.
**Tenancies**
The property is currently
of 10 years ending on 30th August 2026. The current rent is £14, 000
per annum exclusive. The tenant is responsible for
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
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
retail use. However, we recommend that interested parties make their
own enquiries to the local authority.
**Rating assessment**
Rateable
rates payable: £4, 654. 50
**Tenure**
We understand that the property is held freehold. We are seeking
offers in excess of £150, 000.
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