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ONLINE AUCTION from 20th OCTOBER
A deceptively spacious period property situated on Lower Dock Street in an area of established commercial occupiers including Newport City Homes, the Passport Office, Newport Magistrate Court and Asda. This is a unique opportunity to purchase a landmark building on the edge of Newport city centre, a short distance from the new Friars Walk development and will be of interest to owner occupiers, developers and investors.
The property provides a ground floor open plan area, previously used as a dance studio. The property is currently vacant but was previously let at annual rental income of £5,244. The upper floors are vacant and require refurbishment. They are separately accessed from Lower Dock Street and have the potential for conversion to residential. Planning has been granted with conditions for change of use of ground floor from dance studio to mixed use of B1 & A2 conversion of upper floors to create five flats.
Planning: Planning permission has been granted with conditions for change of use of ground floor from dance studio to mixed use of B1 & A2 conversion of upper floors to create five flats.
Ground Floor: 3 rooms, bathroom
First Floor: 9 rooms, storage, bathroom
Second Floor: 5 rooms, 2 bathrooms
Basement: 4 rooms, wc
To be sold with vacant possession
Advised Freehold - to be verified by solicitor
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 £975) 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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