This attractive three storey end of terrace building is situated close to the crossroads at the centre of Newport, the Island's County town.
The property comprises a ground floor commercial investment which is at present holding over at the end of a previous commercial lease. Above and to the rear of the commercial element are four self-contained flats which are understood to all be let under the terms of Assured Shorthold Tenancy Agreements.
The property is considered ideal for addition to an income-producing portfolio.
Commercial
Ground Floor
Understood to comprise main retail area, rear store room, staff kitchen and cloakroom with W.C.
Tenancy
Let under the terms of a commercial lease which expires on 31st October 2022 at a rental of £12,750 per annum.
Residential
Ground Floor
Flat 1
Understood to be a one bedroom flat.
Tenancy
Understood to be let on an Assured Shorthold Tenancy Agreement.
First Floor
Flat 2
Kitchen/living room, bedroom and bathroom.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £500 per calendar month.
Flat 3
Understood to be a two bedroom flat.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £650 per calendar month.
Flat 4
Understood to be a one bedroom flat.
Tenancy
Understood to be let on an Assured Shorthold Tenancy Agreement.
Auctioneers Note
At the time of publication it has not been possible to inspect substantial parts of the building and interested parties are therefore advised to rely on their own enquiries.
The limited information provided on income and occupancy is understood to be correct at the time of publication. Again, purchasers are advised to rely on their own enquiries.
Viewing
External only although a video tour of some of the building is available on the Clive Emson website.