Commercial Property with Residential Potential
The property is located in a prominent pedestrianised position on Commercial Street which is the main shopping area of the City Centre close to Friars Walk and Kingsway shopping centres amidst both local and national occupiers including Greggs, Caffe Nero, Thomas Cook and Primark amongst others. The railway station is within walking distance and there are good road links to the M4 motorway.
See Legal Pack
The Property comprises of a 4 storey mid terrace retail unit with upper floor storage accommodation. The Property was most recently occupied by a travel agency with an A2 Planning use there is planning consent for a change of use to A3. The upper floors have the potential for residential redevelopment and the seller has drafted a scheme for five studio flats (plans available).
The property has been measured on a NIA basis and measures 267.8 sq m / 2,882 sq ft.
Rateable Value (inc upper floors) - £22,300
We have been informed that VAT is payable on this transaction.
Monday 18th March 11.00-11.30 Monday 25th March 11.00-11.30 Monday 1st April 11.00-11.30
Energy Efficiency Rating (EPC)
Current Rating G
Newport City Council
Templetons Solicitors, Temple Chambers, Stanmore Business & Innovation Centre, Howard Road, London, HA7 1BT, Tel: 02088618310
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 £594 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.