Lot 49 - Uppers Floor 31-34 Commercial Street, Newport, NP20 1RL

  • Unconditional Online Auction Sale
  • Guide Price* : £275,000+
  • Bedrooms: 0

Lot 49 - City Centre Location with Planning Consent for Apartments. 

Description

ONLINE AUCTION from 23rd JULY-25th JULY

This office accommodation is at first, second and third floor level with the self-contained entrance located along the pedestrianised main retailing area of Newport city centre. 

The property has obtained planning consent for 16 flats. Please note that two of the flats in the planning approval are on the fourth floor, in the attic space, which are not part of the lease or in the vendors ownership. There have been previous negotiations regarding adding the ownership of the roof and the roof space to the lease, the landlords most recent quote for this was £10,000.

Location
Situated along the pedestrianised main retailing area of Newport city centre. The property occupies a prime location on the corner of Commercial Street and Friars Street, close to the successful Friars Walk Shopping Centre development. Newport’s bus terminal and Newport train station are within a 2 minute and 5 minute walk.

Newport is located approximately 40 kilometres (22 miles) northeast of Cardiff, 40 kilometres (25 miles) north-west of Bristol and 217 kilometres (136 miles) west of London. The location benefits from easy accessible communication with the M4 which gains access to Swansea (west) and the Severn Bridge leading to Bristol (east).

Planning Permission
Planning has been granted for PROPOSED CONVERSION OF FIRST, SECOND AND THIRD FLOORS, LOFT CONVERSION AND EXTENSION OF ROOF SPACE TO FORM 16 NO. FLATS. Further information can be found via Newport City council, planning reference 24/0010.

Accommodation

Floor Description Area Sq Ft Area Sq M
31 Commercial Street
First Floor
Offices 806 74.88
Second Floor Offices 574 53.33
Third Floor Offices 374 34.75
32/33 Commercial Street
First Floor
Offices 591 54.91
Second Floor Offices 605 56.21
Third Floor Offices 400 37.16
33/34 Commercial Street
First Floor
Offices-Front 1,411 131.1
Second Floor Offices-Front 1,436 133.4
Third Floor Offices-Front 986 91.6

Tenancies

To be sold with vacant possession

Tenure

Advised Leasehold - to be verified by solicitor
Approx. 996 years left

Auction Fees And Additional Costs

Auction fees: The sale of each lot is subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £1,200) including VAT unless otherwise stated.

Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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