* Freehold
**Key Points**
* Providing a Net Initial Yield of 7. 56% increasing to 7. 82% with effect from August 2027
* Substantial modern building extending to approximately 109. 7 sq m (1180 sq ft)
* Mixed two storey retail and residential investment property
* Recently refurbished
* Popular town centre location overlooking St Nicholas Church
**Description**
The property comprises an attractive recently renovated mixed use building
which is freehold. The property is over 2 floors with the ground floor being a
retail shop and the first floor being a 1 bed recently refurbished apartment.
The property is brick construction with a flat roof. The brickwork has been
rendered with traditional wooden shop front and windows. The flat has separate
access via a side passage to the rear of the property.
Internally, the ground floor accommodation has been modernised to create an
open plan sales area with offices and WC facilities to the rear. The property
has been used most recently as a kitchen showroom. The residential
accommodation is accessed via a door at the rear which is accessed from the
side passage. The property is 1 bed with open plan kitchen and living room
area. The apartment is modernised to a high standard.
**Tenure**
The property is available freehold subject to the following occupational
tenancies:
The shop is let on a 5 year lease from 1st August 2023 at £14, 400 pa,
increasing to £15, 120 pa from 1st August 2027.
The first floor flat is let on an assured shorthold tenancy at £550 per
calendar month.
The Net Initial Yield is 7. 56% increasing to 7. 82% with effect from August
2027.
**Location**
The property itself occupies a mid - terraced position on St Mary's Street,
situated just off the end of the High Street. The building falls within
Newport Conservation Area and overlooks St Nicholas Church.
Newport is an attractive market town situated on the Shropshire/Staffordshire
Border. The town is located approximately 6 miles north of the town of
Telford, 12 miles west of the town of Stafford and 25 miles north east of the
County Town of Shropshire. The town had a population of 11, 387 at the 2011
census. The town lies approximately 9 miles from the M54, which provides
access to the national road network.

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