LOCATION
The property is situated on the main high street with both national and independent retailers in close proximity, including The Body Shop, Poundland, JD Sports and B&M Stores.
Newport town centre is situated on the Isle of Wight, Hampshire, with good road connections across the Island and links to the ports connecting with Southampton and Portsmouth.
.DESCRIPTION
The property comprises a lock up shop unit with residential flat above on AST. The ground floor retail unit comprises main retail area with smaller additional seating under an archway, kitchen, WC and understairs cupboard. The first floor flat is a 2 bedroom flat, let on an AST.
TERMS
The property has flexibility to provide one good sized ground floor retail unit of circa 1,ooo sq ft or two smaller self-contained lock up shops benefitting from a prominent frontage on to the High Street.
In addition, there is ancillary space on the first and second floor, with the benefit of planning permission to residential.
We are instructed to market these retail unit(s) on a new effective full repairing lease for a term to be agreed at the commencing rental: £15,00o pax for Unit 1, £20,000 for Unit 2 or £35,000 pax as one larger retail space. A service charge of the fair proportion of the building and insurance will be payable.
Alternatively, offers for the freehold comprising retail with uppers would be considered.
OUTGOINGS
Rateable Value:
Shop: £55,000 (Source: VOA) Shop to be re-assessed.
EPC RATING
C (75)
LEGAL COSTS
Each party to be responsible for their own legal costs incurred in this transaction.
