Lot 30 Landmark Freehold Town Centre Commercial InvestmentAuction Date:
1st May 2025
Gods Providence House, 12 St. Thomas' Square, Newport, Isle Of Wight, PO30 1SL
Currently let at £28,000 per annum
Key Features
Occupying a prominent position overlooking St. Thomas Square in the centre of Newport, the Isle of Wight's County town, Gods Providence House is one of the Isle of Wight's oldest and best known food establishments. The freehold property is arranged over three floors which includes a residential flat on the top floor, although this space is currently utilised as storage by the commercial tenant.
The property is let under the terms of a five-year commercial lease and is considered ideal for addition to an income producing investment portfolio.
Ground Floor
Customer seating area, gift shop/reception, commercial kitchen and ancillary space.
First Floor
Additional customer seating, office, staff room and customer cloakroom with W.C.
Second Floor
Living room, kitchen, two bedrooms and bathroom with W.C.
Auctioneer’s Note
Prospective purchasers should rely on their own enquiries in respect of the planning status of the former residential flat.
Tenancy
Let under the terms of a five-year commercial lease from 17th December 2023 at a current rental of £28,000 per annum, exclusive of VAT.
EPC Rating
D (78). Total Floor Area 319 sq.m.
There is an addendum available to be read
in conjunction with the legal documentation.
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 Buyers Fees
