Terraced house for sale

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Terraced house for sale

7-8 Commercial Street, Newport, Newport NP20 1HE
£95,000

Our Summary

  • City Centre Investment/Potential Development Opportunity
  • The property provides an attractive investment opportunity currently generating £11,500 per annum through the ground floor being leased by the tenant at £10,000 per annum, with the upper three floors and basement generating £1,500 per annum and let on a long lease to Sports Direct

Description

A substantial Grade II listed building in the city centre is available for investment or redevelopment. The property spans 11,523 sqft and is currently generating £11,500 per annum through a mix of ground floor and upper floor leases. The ground floor is currently let to a tenant at £10,000 per annum, while the upper floors and basement are let to Sports Direct on a long lease. However, terms have been agreed for the ground floor to be let to Luxury Leisure T/A Admiral for £20,000 per annum on a 10-year term. The property's prominent location on the pedestrianised main high retail street offers potential for redevelopment, subject to contract and planning, and the existing leases may be an option to acquire. The surrounding area has seen recent developments, including a food market, hotel, and residential apartments.