56 Commercial Street, Newport, Newport
Newport, NP20 1LQ

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Ben Davies

The Agent

Ben Davies
Associate

02920 346311
Dominic Garner

The Agent

Dominic Garner
Senior Surveyor

02920 346375
Brochure

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Specification

  • RETAIL, INVESTMENT RETAIL
  • 2,911 sqft (270 sqm)
  • For sale
  • £135,000

Description

Newport is Wales' third largest City which is located approximately 22 km (40 miles) north east of Cardiff, 40km (25 miles) north west of Bristol and 217 km (136 miles) west of London. The location benefits from easy accessible communication via the M4 with Swansea to the west and the Severn Bridge, leading to Bristol to the east. Newport has recently seen an exciting regeneration with Friars Walk Shopping Centre development completed a few years ago, drawing people back into the City Centre.

LOCATION

The property is located on Commercial Street in a strong secondary retailing location with a mix of occupiers in the immediate vicinity including Shaws, The Money Shop, British Red Cross, Primark and food uses such as Kaspers opposite the property

DESCRIPTION

The property is a 5 storey building over ground, first, second, third and basement floors with access to the ground floor provided direct from Commercial Street. Access to the rear is provided just off Commercial Street via Emlyn Walk. There are 2 car parking spaces provided to the rear.

TENANCY

The entirety is let to St Vincent De Paul's Society (Co No 03174679) by virtue of an IRI lease at a rent of £14,000 pa for a term of 10 years from 31st August 2016, expiring 30th August 2026. There is a tenant only break clause on the 31st August 2021 on 6 months written notice. The rent review date falls on 31st August 2020

TENURE

Freehold

VAT

VAT is applicable.

ACCOMMODATION

The property provides the following approximate areas and
dimensions:

Ground Floor Sales 84.07 sq m 905 sq ft
First Floor 39.20 sq m 422 sq ft
Second Floor 34.60 sq m 372 sq ft
Third Floor 36.36 sq m 391 sq ft
Basement 76.29 sq m 821 sq ft
Total 270.52 sq m 2,911 sq ft

LEGAL COSTS

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

EPC RATING

D - 85

PROPOSAL

Offers are invited in excess of £135,000 (One Hundred and Thirty Five Thousands Pounds), subject to contract and exclusive of VAT for our clients Freehold interest.

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.