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Lot 26 - Commercial Property with Planning Consent for 20 Flats

Description

ONLINE AUCTION from 10th DECEMBER-12th DECEMBER

A three storey building with planning consent for a mixed use development. The property has most recently been used as a department store although has been closed for a number of years. 

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 consent has been agreed with conditions for: PROPOSED DIVISION OF GROUND FLOOR AND NEW SHOP FRONT TO FORM 2NO COMMERCIAL UNITS, PART CONVERSION OF REAR GROUND FLOOR, CONVERSION OF FIRST, SECOND, THIRD AND FOURTH FLOOR AND REAR EXTENSION TO FORM FLATS. Planning reference 21/0311. Please contact Newport city council for further information.

Planning has been granted with conditions for: CONSERVATION AREA CONSENT FOR DEMOLITION OF REAR DORMERS AND PREFABRICATED TOP FLOOR STRUCTURES. Planning reference 21/0150. Please contact Newport City Council for more information.

Planning consent has been granted with conditions for: PROPOSED DIVISION OF GROUND FLOOR AND NEW SHOP FRONT TO FORM 2 NO. COMMERCIAL UNITS. PART CONVERSION OF REAR OF GROUND FLOOR TO PROVIDE CYCLE AND BIN STORAGE, CONVERSION OF FIRST, SECOND, THIRD, FOURTH FLOORS TO FORM 20 NO. FLATS, REMOVAL OF DORMERS AND TOP FLOOR STRUCTURES AND ERECTION OF REAR EXTENSIONS. Planning reference 21/0149. Please contact Newport City council for further information.

VAT
We have been advised that there is no VAT due on the sale of this property.

Tenancies

To be sold with vacant possession

Tenure

Advised Freehold - to be verified by solicitor

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.