Lot 26 - 114 Lower Dock Street, Newport, Gwent, NP20 2AF
- Unconditional Online Auction Sale
- Guide Price* : £296,000+
- Bedrooms: 0
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Lot 26 - Tenanted Commercial Premises
Description
ONLINE AUCTION from 15th APRIL-17th APRIL
A former dock building, comprising of 4 storey's including basement. The property is currently tenanted by reputable tenants (BAROD) who have recently signed a new 2-year lease renewal which commenced 01/04/2025.
The tenants are paying a rental of £32,000 per a year. The rent is paid two yearly in advance, and will be apportioned and paid to the purchaser on the point of completion.
The property comprises of 4 storey's, including basement. The ground, first and second storey's all contain 3 floors of offices, with a kitchenette, toilets, and a boiler serving each floor. There is a separate meter serving each floor.
The premises was fully refurbished from the shell, circa 2007 at an overall cost of more than £500,000. During the renovation, extensive works were completed, including all electrical installations, plumbing gas, roof, floors, render, hardwood windows, service fire alarm, emergency lighting, and stairs.
The building has recently had a full exterior repaint, which is still in the process of being completed.
To the rear of the property is a large garage with an electric roller shutter door. There is also a good sized car park.
Location
Situated in the city of Newport, a short walk from the City Centre. The surrounding area features a mix of residential and commercial properties. Nearby amenities include various shops, eateries, and public services
The location also benefits from excellent transport links, with easy access to Newport bus station, train station, and the M4 facilitating seamless connections to the broader Newport region, Cardiff, Bristol and Swansea.
Services
The property benefits from gas, water and electric (not tested).
Tenancy
| Tenant | Tenancy Type | Start Date / End Date | Tenancy Term | Rental Amount |
|---|---|---|---|---|
| Barod | TBC | 01/04/25 - 31/03/27 | 2 | £32,000 pa |
Auction Fees And Additional Costs
Auction fees: The sale of each lot is subject to a buyer’s premium of 1.5% of the purchase price (subject to a minimum of £1,500) 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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Documents
- Terms and Conditions for Unconditional and Conditional Online Auctions
- Reservation Fees & Deposits Explained
- Buyers Guide for Unconditional Auctions
- Sellers Guide for Unconditional Auctions
- Guide to Buying at Auction
Legal Documents
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As a trusted partner of Paul Fosh Auctions, Together could offer the auction finance you need, when you need it. Visit togethermoney.com for more information.
If considering a mortgage, we advise that you inspect and consider the property carefully with your lender before bidding.
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