Lot 32 - 25 Bridge Street, Newport, NP20 4BG

  • Unconditional Online Auction Sale
  • Guide Price* : £260,000+

LOT 32 - Tenanted Mixed Use Development

Description

ONLINE AUCTION from 17th MAY-19th MAY

Located within Newport city centre, and within walking distance of Newport train station, this mixed use development benefits from plenty of footfall.

The property is currently fully tenanted and achieving a good rental yield.

The ground floor and basement is tenanted by national Estate Agents Martin and Co, who will be paying £8,000 per annum.

Located on the first floor of the building is a well presented one bedroom, tenanted flat, currently achieving a monthly rental income of £700.

On the top floor is also a one bedroom flat achieving a monthly rental income of £700.

There is parking for approximately three cars to the rear of the property.

With a total annual income of £24,000 this property would make the ideal investment.

Accommodation

Ground Floor: Retail area
Lower Ground Floor: Head height basement with 3 storage rooms and wc
First Floor: wc
First Floor Flat 1: Kitchen/living room, bathroom, bedroom
Second Floor Flat 2: Kitchen/living room, bathroom, bedroom
Outside: Parking for 3 cars

Tenancy Details

Floor Description Area Sq Ft Area Sq M Rental
FLOOR TENANT START DATE END DATE RENTAL
Ground Floor/Lower Ground Floor Martin & Co April 2022 April 2029 £8,000 pa
First Floor Flat 1 5th July 2019 Periodic £550 pcm
Second Floor Flat 2 20th July 2019 Periodic £550 pcm
Total £21,200 pa

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.

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Paul Fosh Auctions
01633 254044

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