Lot 43: FREEHOLD TOWN CENTRE MIXED INVESTMENT

This freehold double fronted mixed commercial and residential investment, is situated in the commercial heart of Newport, the Island’s County Town. An attractive location, St Thomas Square hosts a range of retailers and also hosts a twice weekly market.

The ground floor comprises a double fronted shop unit, Numbers 4 & 5, which are let to a leading charity, while on the upper floors there are a pair of three bedroom flats, which are let on assured shorthold tenancies. The property is considered ideal for addition to an income producing investment portfolio.

Ground Floor

Commercial

Double fronted shop extending to just over 150 sq.m. (1,640 sq.ft.) including storage, staff amenities area and two cloakrooms with W.C.s.

Tenancy

Let under the terms of a Commercial Lease for a term of 5 years from 24th April 2012 at a passing rent of £27,000 per annum.

Residential

Flat 4A

First Floor

Landing, living Room and kitchen

Second Floor

Landing, three bedrooms and bathroom with W.C.

Tenancy

Let under the terms of an Assured Shorthold Tenancy from 2nd January 2016 at a current rental of £550 per calendar month.

Flat 5

First Floor

Landing, living Room and kitchen

Second Floor

Landing, three bedrooms and bathroom with W.C.

Tenancy

Let under the terms of an Assured Shorthold Tenancy from 11th December 2011, at a current rental of £550 per calendar month.

EPC Rating

EPC Rating D.

Auctioneer’s Note

We have not inspected the property internally. The accommodation details for Flat 5 have been provided by the tenant. It is believed that the two flats offer identical accommodation but this has not been verified.

Residential EPC: E
Commercial EPC: D

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