Lot 130

OVER 12,500 SQ. FT. FORMER BANK BRANCH AND OFFICES ON A THREE-QUARTER ACRE PLOT

NatWest Business Centre, Riverway, Newport, Isle of Wight, PO30 5UX
NatWest Business Centre, Riverway, Newport, Isle of Wight, PO30 5UX
JULY AUCTION

Situated on the Riverway Industrial Estate, close to the centre of Newport, this detached freehold building was previously used as a bank branch and business centre, with supporting offices, meeting rooms and storage areas.

The Riverway Industrial Estate has a mix of retail warehouses, car dealerships, trade counters and industrial units. We are advised that the building was originally constructed as a furniture factory and showroom, indicating that the building and plot may be suitable for a number of future commercial uses, subject to all necessary consents being obtainable.

The building extends to 1,187 sq.m. (12,782 sq.ft.) over two floors and is situated on a plot of 0.29 hectares (0.73 acres) which includes some 60 car parking spaces - although at the time of sale some of these have been reclaimed by nature and will require the clearance of vegetation prior to use.

The bank are intending to retain an area of the car park on a leasehold basis for the storage of a mobile banking unit which is, at present, housed within a green ‘cage’ within the car park. We are advised that it may be possible to relocate the ‘cage’ within the car parking area, if preferred by the buyer. Full details of this arrangement and the options will be included in the legal pack, available to download from the Clive Emson website or inspection at the Auctioneer’s Office.

Local Planning Authority

Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.

EPC Information

The property has an EPC rating of C (69).

Freehold with Vacant Possession

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/