Lot 83 - 157 Commercial Street, Newport, NP20 1JQ
- Unconditional Online Auction Sale
- Guide Price* : £75,000+
- Bedrooms: 0
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Lot 83 - Commercial Retail Investment Opportunity in the Heart of Newport
Description
ONLINE AUCTION from 16th DECEMBER-18th DECEMBER
The property forms part of the former Topshop building and is currently occupied by a fruit and vegetable retailer on a rolling licence, producing a passing rent of £12,000 per annum.
We have been advised by the landlord that Friars Fruit have been in occupation since 2020.
Guide price equivalent to £10.85 per sq ft.
There is also potential for residential development above the retail unit, subject to obtaining the necessary planning permission.
Newport city centre is a major retail and commercial hub for South Wales, benefiting from strong footfall, established shopping streets, and major schemes such as Friars Walk. The area has experienced significant regeneration and investment in recent years, supporting continued growth across the retail, leisure, and business sectors.
Measurements
We have been advised that the total area of the premises is 7,375 sq ft. Internal floor plans and detailed measurements will be provided at a later date.
Tenancies
The property is sold subject to a rolling tenancy at a passing rent of £12,000 per annum.
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 1.5% 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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Auction Finance
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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