Lot 107: FREEHOLD MIXED COMMERCIAL AND RESIDENTIAL TOWN CENTRE INVESTMENT

MARCH AUCTION

Situated close to the bus station in the centre of Newport, the Island’s county town, this substantial three storey freehold building is at present let to both commercial and residential tenants, and producing a healthy investment income.

Occupiers include the multi-national “GAME” on a renewed five year lease.

Commercial

29 St James Street

Ground Floor

Main trading area with rear store rooms, staff kitchen area and cloakroom with W.C.

Tenancy

Let under the terms of a five year lease from 13th November 2017 at a current rental of £27,500 per annum.

29B St James Street

First/Second Floors

Currently let to a Health and Beauty provider with accommodation over the two floors including a main salon area and numerous smaller treatment rooms, cloakroom with W.C. and staff kitchen/rest room.

Tenancy

Let under the terms of a commercial lease for a period of ten years from 1st September 2018 at a current rental of £8,000 per annum.

Residential

29A St James Street

First Floor

Living room, kitchen/dining room, two bedrooms, bathroom (no W.C.) and cloakroom with W.C.

Tenancy

Currently holding over under the terms of an Assured Shorthold Tenancy Agreement from 26th January 2013 at a current rental of £6,000 per annum.

Second Floor

Living room, kitchen, bedroom, bathroom (no W.C.) and cloakroom with W.C.

Tenancy

Currently holding over under the terms of an Assured Shorthold Tenancy Agreement from 10th November 2012 at £3,600 per annum.

Residential EPC: E
Commercial EPC: D