14 - 15 Commercial Road Newport Gwent NP20 1HE

14 - 15 Commercial Road
Newport
Gwent
NP20 1HE

Substantial Freehold Bank Investment

Let to Barclays Bank Plc until 2028 (subject to option)
Prominent corner position fronting Commercial Street
The tenant has recently completed a refurbishment programme, details of which are available in the legal pack
Nearby occupiers include Debenhams, Sports Direct, Iceland and WH Smith
VAT-free bank investment

Lot
60
Auction
19th October 2017
Rent
£155,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Substantial Freehold Bank Investment

Let to Barclays Bank Plc until 2028 (subject to option)
Prominent corner position fronting Commercial Street
The tenant has recently completed a refurbishment programme, details of which are available in the legal pack
Nearby occupiers include Debenhams, Sports Direct, Iceland and WH Smith
VAT-free bank investment

Lot 60
Auction 19th October 2017
Rent £155,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Bank
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 12 miles north-east of Cardiff
Roads: A48, A449, A4042, M4
Rail: Newport Railway Station
Air: Cardiff Airport

Situation

The property occupies a prominent corner position, fronting the prime pedestrianised Commercial Street and returning onto Corn Street, Newport's principal retailing thoroughfare. Friars Walk Shopping Centre is located less than 150 metres from the property, housing retailers including Debenhams, M&S Food Hall, New Look and Topshop. Other occupiers on Commercial Street include Boots the Chemist, WH Smith, Sports Direct, Costa, Starbucks and branches of Halifax, Santander and TSB banks.

Tenure

Freehold.

Location

Miles: 12 miles north-east of Cardiff
Roads: A48, A449, A4042, M4
Rail: Newport Railway Station
Air: Cardiff Airport

Situation

Tenure

Freehold.

Description

The property, a substantial Grade II listed building, comprises a ground floor banking hall, with ancillary accommodation on the basement and office accommodation on the first, second and third floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is not applicable to this lot.

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)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground Basement First Second Third	Banking Hall Ancillary Offices Offices Offices	359.46 sq m 228.20 sq m 295.17 sq m 290.77 sq m 272.49 sq m	(3,869 sq ft) (2,456 sq ft) (3,177 sq ft) (3,130 sq ft) (2,933 sq ft)	BARCLAYS BANK PLC (1)	20 years from 22/01/2008 (2) on a full repairing and insuring lease	£155,000	25/03/2019 (21/01/2028)
Totals		1,446.09 sq m	(15,565 sq ft)			£155,000

(1) For the year ending 31st December 2016, Barclays Bank Plc reported pre-tax profits of £4,383,000,000 and a total net worth of £60,085,000,000 (Source: Experian Group 19/09/2017).
(2) The lease is subject to a tenant option to determine on 22nd January 2023 and a schedule of condition.