7 - 8 Commercial Street Newport Gwent NP20 1HE

  • 7 - 8 Commercial Street<br>Newport<br>Gwent<br>NP20 1HE

7 - 8 Commercial Street
Newport
Gwent
NP20 1HE

Freehold Retail Investment

  • Prominent pedestrianised location in the heart of the City Centre
  • Nearby occupiers include H&M, WH Smith, River Island, Topshop and New Look
  • Close to Friars Walk Shopping Centre housing retailers including Marks & Spencer, Debenhams, Next and restaurants including Wagamama, TGI Friday and Prezzo
  • No empty rates (Grade II Listed)
  • Of interest to investors and owner occupiers
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    94
  • Auction
    7th July 2016
  • Rent
    £20,700 per Annum Exclusive
  • Status
    Sold
  • Price
    £202,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE
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Freehold Retail Investment

  • Prominent pedestrianised location in the heart of the City Centre
  • Nearby occupiers include H&M, WH Smith, River Island, Topshop and New Look
  • Close to Friars Walk Shopping Centre housing retailers including Marks & Spencer, Debenhams, Next and restaurants including Wagamama, TGI Friday and Prezzo
  • No empty rates (Grade II Listed)
  • Of interest to investors and owner occupiers
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 94
  • Auction 7th July 2016
  • Rent £20,700 per Annum Exclusive
  • Status Sold
  • Price £202,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE

Property Information

Location
Miles
5 miles south-east of Cwmbran, 12 miles north-east of Cardiff
Roads
A48, A449, A4042, M4
Rail
Newport Railway Station
Air
Cardiff Airport
Situation

The property is located on the eastern side of the pedestrianised section of Commercial Street, in the heart of the City Centre. The property is adjacent to Sports Direct with other retailers on Commercial Street including H&M, WH Smith, River Island, Topshop, New Look and Poundland. Friars Walk Shopping Centre, which opened in November 2015, is just a short walk away housing retailers including Marks & Spencer, Debenhams and Next as well as various restaurants and an eight screen multiplex cinema.

Tenure

Freehold.

Location
Miles
5 miles south-east of Cwmbran, 12 miles north-east of Cardiff
Roads
A48, A449, A4042, M4
Rail
Newport Railway Station
Air
Cardiff Airport
Situation

The property is located on the eastern side of the pedestrianised section of Commercial Street, in the heart of the City Centre. The property is adjacent to Sports Direct with other retailers on Commercial Street including H&M, WH Smith, River Island, Topshop, New Look and Poundland. Friars Walk Shopping Centre, which opened in November 2015, is just a short walk away housing retailers including Marks & Spencer, Debenhams and Next as well as various restaurants and an eight screen multiplex cinema.

Tenure

Freehold.

Description

The property comprises a ground floor double fronted retail unit with additional commercial accommodation (sold off) on the first, second and third floors.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particularshas been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor double fronted retail unit with additional commercial accommodation (sold off) on the first, second and third floors.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particularshas been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) (3) Tenant Term Rent p.a.x Reversion
Ground Retail/Ancillary
251.85 sq m
(2,711 sq ft)
 CARLEON
WHOLESALE
LIMITED (1)		 1 year licence
from 18/08/2015
(2)		 £19,200 (17/08/2016)
First
Second
Third		 Office/Ancillary
Office/Ancillary
Office/Ancillary
407.09 sq m
411.55 sq m
-
(4,382 sq ft)
(4,430 sq ft)
(-)
 SPORTSDIRECT.
COM RETAIL
LIMITED		 99 years from
25/12/1953		 £1,500 (24/12/2052)
Totals  
1,070.49 sq m
(11,523 sq ft)
     £20,700

1) The tenant has made an application to assign the licence to NT Wholesale Limited.
(2) The Licensor and the Licensee may terminate this licence at any time on providing no less than four weeks prior written notice.
(3) The auctioneers have not yet been able to gain access to the premises. The areas have been sourced from a report supplied by the seller and no warranty can be given for their accuracy.

Contacts

Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Austin Judson 0113 283 2500austin.judson@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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