Lot 38 - 106-107 Lower Dock Street, Newport, NP20 2AG

  • Unconditional Online Auction Sale
  • Guide Price* : £215,000+

Substantial Period Building for Redevelopment

Description

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.

Accommodation

Ground Floor: 3 rooms, bathroom
First Floor: 9 rooms, storage, bathroom
Second Floor: 5 rooms, 2 bathrooms
Basement: 4 rooms, wc

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 £750) 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.

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. 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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Sold for £237,250

This auction lot is now closed.

Auction Ended

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Office Contact

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Paul Fosh Auctions, 01633 254 044
01633 254044

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