Lot 43

FREEHOLD TOWN CENTRE MIXED INVESTMENT

4-5 St Thomas' Square, Newport, Isle Of Wight, PO30 1SN
4-5 St Thomas' Square, Newport, Isle Of Wight, PO30 1SN
Sold Prior

Currently let at £40,200 per annum

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.

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/