Lot 118: OVER 12,500 SQ. FT. FORMER BANK BRANCH AND OFFICES ON A THREE-QUARTER ACRE PLOT

Sold £550,000

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

Commercial EPC: C