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108-109 Commercial Street, Newport, NP20 1LW

  • Auction
  • Lot 94
  • United Kingdom
  • Pub/Hotel
  • Commercial

Invited Opening Bid £400,000

Property Summary

  • Freehold public house investment
  • Substantial corner building arranged over four floors plus basement
  • Future development potential (subject to planning)
  • Currently producing £110,767 per annum

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.
Garry Abrams
Vendor's Solicitor

Contact Us

Simon Bailey
Simon Bailey
Property Agent, here to help.
Garry Abrams
Vendor's Solicitor

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Description

A substantial corner double fronted building of traditional construction arranged over basement, ground and three upper floors. The building is currently arranged as a ground floor public house with ancillary accommodation at first floor level. The first and second floors are currently sealed off but may offer development potential, subject to obtaining the necessary consents. Externally there is a rear patio area and there is also a telecomms mast situated on the building.

Location

Newport is the third largest city in Wales and lies about 13 miles east of Cardiff and 30 miles north west of Bristol. The town lies to the south of the M4 motorway, from which it can be accessed via junctions 24, 25 and 25A via the B4237, B4596 and A4042. Newport railway station provides regional rail services as well as direct links to London Paddington.

Commercial Street in one of the principal shopping thoroughfares in the city centre offering a wide selection of shopping outlets as well as cafes, bars and restaurants. The property lies on the west side the street at its junction with Palmyra Place.

Planning

Newport City Council (01633 656656) www.newport.gov.uk

Tenure

Freehold

Property Table

FloorAccommodationTenancyRent £pa

Ground

First

Part first, second & third floor

Basement

532.32 sq m (5,730 sq ft)

352.56 sq m (3,795 sq ft)

Not currently accessible

136.66 sq m (1,471 sq ft)

Let to the Victoria Garry Group t/a The Tom Toya Lewis for a term of 10 years from 01/03/2018 (1)£100,000
Telecomms mast Let to Hutchinson Three G Ltd for a term of 20 years from 01/07/2002£10,767
TOTAL  £110,767

(1) The Victoria Garry Group is an experienced pub operator which currently trades from 12 other establishments. There is a personal guarantor to the lease (refer to legal pack).

VAT

Please refer to Legal Documents

EPC Details

Refer to the legal pack

Helpful links

*Terms & Conditions

No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.

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