This retail/residential investment is located on Clytha Park Road, a busy retailing parade a short distant walk from Newport City Centre and Newport Railway Station. There is a great mix of local and national retailers in this area including TESCO Express, Well Pharmacy, Meat and The Cellar Door.
See Legal Pack
The Property comprises a mid-terrace building on ground, first and second floor levels. The ground floor is currently vacant but has generated an income of £15,000 per annum, The ground floor retail unit has a glazed frontage to Clytha Park Road. The retail unit is open plan with plaster and painted walls , laminate wood floor covering with a suspended ceiling. At the rear of the ground floor is a storage area and office/kitchen. The ground floor has a NIA of 84.04 sq m / sq ft.
First and Second Floors
To the upper floors is a substantial four bedroom flat which is currently occupied under an AST at a rent of £600 pcm. There is a self contained entrance to this flat from the rear of the property which is accessed off Godfrey Road. There is the potential to convert this accommodation to a HMO, subject to planning, or to convert into two separate flats, there is an historic planning application for this which was granted in 2005 but has since lapsed.
We have been advised that the Rateable Value of the ground floor retail unit is £10,500 per annum. The Welsh Government do offer rate relief on this property, please verify with the Valuation Office.
Energy Efficiency Rating (EPC)
Current Rating C
Newport City Council
Star Legal Abergavenny, Tiverton House, Lion Street, Abergavenny, NP7 5PN, Ref: FAO Heath Marshall, Tel: 01873 736536
Buyer's Premium - £600 inc VAT payable on exchange of contracts.
Administration Charge - 0.25% inc VAT of the purchase price, subject to a minimum of £840 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.