157 - 159 Commercial Street, Newport
Newport, NP20 1JQ

The property is located in a central position on the pedestrianised Commercial Street, close to one of the entrances to Friars Walk Shopping Centre. Occupiers in the nearby vicinity are Boots, W.H. Smith, Iceland, British Heart Foundation, Burger King amongst others. Newport Railway Station is within a 10 minute walk of the unit.

Description

The property comprises a terrace of three buildings which are Grade II Listed. Each property provides ground floor retail accommodation with 4 storey front sections which are of traditional load bearing construction with pitched roofs. Each property has been extended at the rear. The rear elements mostly have flat roof coverings. Separate rear access to the back of the properties is via school lane.

The specification includes;

• £450,000
• Current Income £27,000 p.a. With one unit vacant.
• City Centre Investment / Development Opportunity - Totaling 20,131 sq. ft.
• Opportunity to convert upper parts to alternative use (STP).
• Adjacent occupiers include Boots, W.H. Smith, Iceland & British Heart Foundation. Close proximity to Friars Walk retail and leisure scheme.

Viewings

By appointment via sole selling agents Cooke & Arkwright.

Tenure and Tenancies

Each of the 3 properties are each held on separate freehold titles. 157 The ground floor is occupied by Friars Fruit ltd. The tenant is holding over a lease (excluded from the section 24-28 of the act 1954 landlord and tenant act, which expired in September 2021. The landlord or tenant can break the lease on a 6 weeks notice. The rent payable is £12,000 p.a. 158 Formerly occupied by Poundland. There is an ongoing dilapidation negotiation following the expiry to the Poundland lease in March 2022. 159 Let to Waterstones Booksellers Ltd. (Terms awaited).

Cooke & Arkwright for themselves and for the vendor/lessor of this property whose agents they are give notice that: 1. These particulars do not constitute any part of an offer or contract. 2. All statements contained in these particulars are made without responsibility on the part of Cooke & Arkwright for the vendor/lessor and nothing contained in these particulars is to be relied upon as a statement or representation of fact. 3. Any intended purchaser/lessor must satisfy itself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor/lessor does not make or give and neither Cooke & Arkwright nor any person in their employment has any authority to make or give any representation/warranty whatsoever in relation to this property or any services. 5. All terms quoted exclusive of VAT unless otherwise stated. 6. Cooke & Arkwright is a trading name of Cooke & Arkwright Limited.