Lot 10 - 26 Bridge Street, Newport, NP20 4BG

  • Unconditional Online Auction Sale
  • Guide Price* : £160,000+

Commercial Investment with residential planning

Description

ONLINE AUCTION from 2nd FEBRUARY - 4th FEBRUARY

Located on Bridge Street Newport, this three-storey building with basement is the ideal investment.

This mid terrace building is ideally located in Newport City Centre, with the train station being a two minute walk away, making commuting from London, and into Bristol and Cardiff easy. Located within close proximity to numerous estate agents, financial services and hotels, this property benefits of good levels of footfall.

The building consists of three floors floors, the ground floor and lower ground floor is currently comprised of a tenanted retail unit with ancillary. The tenant, Luscombe and Co currently have been trading for many years as a Lettings Agency. They currently hold a 2 year lease with a view to extend, generating an income of £8,400 per annum.

The first and second floor have planning consent for two luxury one bedroom apartments – Planning reference number 18/0065

Car parking is to the rear elevation for circa 3 vehicles.

*Due to GDPR we are unable to list internal photo's of the office space. Please contact Paul Fosh Auctions for further information.*

Accommodation

Ground Floor Retail Unit: Open plan office space, wc
Lower Ground Floor Ancillary: 2 rooms, 2 storage, kitchenette
First Floor: 3 rooms, wc
Second Floor: 3 rooms
Outside: Car parking to the rear elevation for circa. 3 vehicles

Tenancies

Luscombe & Co currently hold a 2 year lease with a view to extend.

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 £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. 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.

Loading the bidding panel...

Office Contact

Viewing

Paul Fosh Auctions
01633 254044

Documents

Share