174 Commercial Street, Newport, Newport
Newport, NP20 1JN

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Ben Davies

The Agent

Ben Davies
Associate

02920 346311
Brochure

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Specification

  • RETAIL
  • 1,624 sqft (151 sqm)
  • To let
  • £37,500 per Annum

Description

LOCATION

The property is located in a prime position on the pedestrianised Commercial Street, close to one of the entrances to Friars Walk Shopping Centre. Adjacent occupiers are H. Samuel and TUI. Other occupiers in the immediate vicinity include Costa Coffee, Card Factory, The Works, O2 and Sports Direct.

DESCRIPTION

The premises comprises two storeys over ground and basement floor.  Access is provided direct from Commercial Street. The ground floor is well configured, with hatch access to the basement within the sales area.

TERMS

Subject to vacant possession the property is available on the basis of a new lease via effective full repairing and insuring terms.

Quoting rent £37,500 pax

RATEABLE VALUE

The 2017 Rateable Value for the property is:-

Rateable value: £27,750
Rates payable: £14,680

Interested parties are encouraged to make their own enquiries with the Local Rating Authority.

VAT

VAT will be payable in addition to the rent.

EPC
D - 84

ACCOMMODATION

The property comprises of the following approximate areas and dimensions:

Gross Frontage 9.27 m 30 ft 05 ins
Net Frontage 6.46 m 21 ft 02 ins
Ground Floor Sales 150.87 sq m 1,624 sq ft
Basement (hatch access) not measured
W/C

PLANNING

We understand that the property benefits from A2 use however other uses will be considered subject to the tenant obtaining all necessary planning consents.

LEGAL COSTS

Each party to bear its own costs in dealing with this transaction.

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.

Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

Steve Phillips, Group Finance Director, Welsh Rugby Union Group