160 Commercial Street Newport Gwent NP20 1JQ

160 Commercial Street
Newport
Gwent
NP20 1JQ

High Yielding Freehold Retail Investment

Let to British Heart Foundation
Lease expires December 2026 (no breaks)
December 2021 break not exercised
Rent re-based in 2021
Close to Friars Walk Shopping Centre
Adjacent to Iceland Supermarket and Waterstones
Other nearby occupiers include M&S Foodhall, Primark, Boots the Chemist, Superdrug, Wagamama's and Burger King

Lot
30
Auction
21st September 2023
Rent
£25,000 per Annum Exclusive
Status
Sold
Price
£200,000
Auction Venue
Live Streamed Auction

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High Yielding Freehold Retail Investment

Let to British Heart Foundation
Lease expires December 2026 (no breaks)
December 2021 break not exercised
Rent re-based in 2021
Close to Friars Walk Shopping Centre
Adjacent to Iceland Supermarket and Waterstones
Other nearby occupiers include M&S Foodhall, Primark, Boots the Chemist, Superdrug, Wagamama's and Burger King

Lot 30
Auction 21st September 2023
Rent £25,000 per Annum Exclusive
Status Sold
Price £200,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

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 is situated in the heart of the town centre on the pedestrianised Commercial Street, opposite Austin Friars, which leads to Friars Walk Shopping Centre. The property is adjacent to Iceland Supermarket and Waterstones with other nearby occupiers include M&S Foodhall, Primark, Boots the Chemist, Superdrug, Wagamama's and Burger King.

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 comprises a shop arranged on the ground, basement, first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Description

The property comprises a shop arranged on the ground, basement, first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground Basement First Second Third	Retail/Ancillary Ancillary Ancillary Ancillary Ancillary	155.71 65.03 90.67 42.92 43.19	(1,676) (700) (976) (462) (465)	BRITISH HEART FOUNDATION (1)	10 years from 06/12/2016 on a full repairing and insuring lease	£25,000 (2)
Total		221.23	(4,276)			£25,000

(1) The British Heart Foundation is a cardiovascular research charity that funds medical research related to heart and circulatory diseases and their risk factors, and runs influencing work aimed at shaping public policy and raising awareness. They have been established since 1961 and trade from over 600 stores across the UK (www.bhf.org.uk)
(2) The rent was reduced in 2021 from £41,500 p.a.x. in return for the tenant not exercising their break option.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.