The recently renovated property is located on the pedestrianised section of Commercial Street, Newport which is the historical main retailing pitch of Newport City Centre. The Friars Walk and Kingsway Centre are located a short walk from the unit and offer a mix of retail and leisure occupiers. Adjacent to the unit are Game and Deichmann with other significant occupiers in the vicinity being Primark, Lloyds Bank, Greggs and Cafe Nero.
The unit offers a part fitted unit with sales area over the ground and first floor. The second floor offers a food preparation area and ancillary staff services. The property benefits from 3 phase electricity. This is an ideal opportunity for a start up enterprise.
The premises is available by way of a new lease on effectively full repairing and insuring terms for a term to be agreed at a quoting rent of:
Quoting rent £25,000 pax
The 2017 Rateable Value for the property is:
Rateable value £18,250
Rates payable £ 9,386
Interested parties are encouraged to make their own enquiries with the Local Rating Authority.
The property has been elected for VAT and therefore VAT is payable to the rent.
Net Frontage 4.43m 14 ft 06 ins
Internal Width 4.96m 16 ft 03 ins
Shop Depth 22.59m 74 ft 01 ins
Ground Floor Sales 100.52 sq.m 1,082 sq ft
First Floor Anc 37.72 sq.m 406 sq ft
Second Floor Anc 40.78 sq m 439 sq ft
Third Floor Anc 31.96 sq m 344 sq ft
Our enquiries with the local planning authority indicate that the property has the benefit of planning permission for Class A3 Use.
98 - D
Each Party to bear their own legal costs in dealing with this transaction.