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.
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
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.
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
VAT is applicable.
The property provides the following approximate areas and
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
Each party to bear its own costs in dealing with this transaction
D - 85
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.