Property description
Location
The property is located on Newport High Street, close to its junction with Quay Street, Holyrood Street and St Thomas Square. Neighbouring occupiers include Blacks Outdoor Retail, A-Plan Insurance, Yatess, Hose Rhodes Dickson, Watson Bull & Porter and O2. The Guildhall is opposite.
Description
The property offers a wide frontage to the High Street and comprises two linked buildings dating from the late 1900s, set out over three floors with a private car park to the rear for 5/ 6 cars. The property has until recently been let in whole to IW Council and is now vacant and available to let or for sale. It was formerly the headquarters of IW County Press. All main services are provided. Please note the property is Grade II Listed.
Accommodation
Total net internal floor space is approximately:
4,456 sq ft (414 sq m) comprising:
Ground floor: 1,612 sq ft (149.7 sq m)
First floor: 1,374 sq ft (127.6 sq m)
Second floor: 1,471 sq ft (136.7 sq m)
Use
Whilst previous use has been as A2 retail/ offices, the
property may lend itself to A1 retail or restaurant use at ground floor, with offices or residential use of the upper parts, subject to any permitted development rights and all relevant planning and other consents.
Proposal
Our client is seeking rental offers in the region of £35,000pa or offers to acquire their freehold interest at £400,000 plus VAT if applicable.
Business Rates
The current rating assessment is shop and premises: RV £35,250pa, standard current multiplier 0.482, therefore rates payable £16,990pa. VOA website: www.2010.voa.uk
Viewings
By arrangement with sole agent HRD Commercial.
Property Features :
- High Street Unit
- A2 Use
- Potential for A1 retail or Restaurant Use