No longer on the market
This property is no longer on the market
Floorplan
MapRetail property (high street)
Retail property (high street)
1180
Features and description
- Providing a Net Initial Yield of 7.56% increasing to 7.82% with effect from August 2027
- Substantial modern building extending to approximately 109.7 sq m (1180 sq ft)
- Mixed two storey retail and residential investment property
- Recently refurbished
- Popular town centre location overlooking St Nicholas Church
Description
The property comprises an attractive recently renovated mixed use building which is freehold. The property is over 2 floors with the ground floor being a retail shop and the first floor being a 1 bed recently refurbished apartment.
The property is brick construction with a flat roof. The brickwork has been rendered with traditional wooden shop front and windows. The flat has separate access via a side passage to the rear of the property.
Internally, the ground floor accommodation has been modernised to create an open plan sales area with offices and WC facilities to the rear. The property has been used most recently as a kitchen showroom. The residential accommodation is accessed via a door at the rear which is accessed from the side passage. The property is 1 bed with open plan kitchen and living room area. The apartment is modernised to a high standard.
Location
The property itself occupies a mid-terraced position on St Mary's Street, situated just off the end of the High Street. The building falls within Newport Conservation Area and overlooks St Nicholas Church.
Newport is an attractive market town situated on the Shropshire/Staffordshire Border. The town is located approximately 6 miles north of the town of Telford, 12 miles west of the town of Stafford and 25 miles north east of the County Town of Shropshire. The town had a population of 11,387 at the 2011 census. The town lies approximately 9 miles from the M54, which provides access to the national road network.
Tenure
The property is available freehold subject to the following occupational tenancies:
The shop is let on a 5 year lease from 1st August 2023 at £14,400 pa, increasing to £15,120 pa from 1st August 2027.
The first floor flat is let on an assured shorthold tenancy at £550 per calendar month.
The Net Initial Yield is 7.56% increasing to 7.82% with effect from August 2027.
What3words
slip.pampered.succeed
Services
(Not tested at the time of inspection) Mains water, electricity and drainage are connected to the property.
The water and electricity is on a shared meter and recharged via sub meters.
The first floor residential accommodation benefits from Gas central heating.
Local Authority
Telford & Wrekin Council
PO Box 457
Wellington Civic Offices
Telford
TF2 2FH
[use Contact Agent Button]
Planning
Prospective tenants to make their own enquiries.
The property does offer some residential development potential, subject to obtaining the necessary planning permission and/or the rear garden could easily be converted to car parking. Interested parties are advised to make their own enquiries with the Local Planning Authority. The property does offer significant development potential in particular residential.
The property comprises an attractive recently renovated mixed use building which is freehold. The property is over 2 floors with the ground floor being a retail shop and the first floor being a 1 bed recently refurbished apartment.
The property is brick construction with a flat roof. The brickwork has been rendered with traditional wooden shop front and windows. The flat has separate access via a side passage to the rear of the property.
Internally, the ground floor accommodation has been modernised to create an open plan sales area with offices and WC facilities to the rear. The property has been used most recently as a kitchen showroom. The residential accommodation is accessed via a door at the rear which is accessed from the side passage. The property is 1 bed with open plan kitchen and living room area. The apartment is modernised to a high standard.
Location
The property itself occupies a mid-terraced position on St Mary's Street, situated just off the end of the High Street. The building falls within Newport Conservation Area and overlooks St Nicholas Church.
Newport is an attractive market town situated on the Shropshire/Staffordshire Border. The town is located approximately 6 miles north of the town of Telford, 12 miles west of the town of Stafford and 25 miles north east of the County Town of Shropshire. The town had a population of 11,387 at the 2011 census. The town lies approximately 9 miles from the M54, which provides access to the national road network.
Tenure
The property is available freehold subject to the following occupational tenancies:
The shop is let on a 5 year lease from 1st August 2023 at £14,400 pa, increasing to £15,120 pa from 1st August 2027.
The first floor flat is let on an assured shorthold tenancy at £550 per calendar month.
The Net Initial Yield is 7.56% increasing to 7.82% with effect from August 2027.
What3words
slip.pampered.succeed
Services
(Not tested at the time of inspection) Mains water, electricity and drainage are connected to the property.
The water and electricity is on a shared meter and recharged via sub meters.
The first floor residential accommodation benefits from Gas central heating.
Local Authority
Telford & Wrekin Council
PO Box 457
Wellington Civic Offices
Telford
TF2 2FH
[use Contact Agent Button]
Planning
Prospective tenants to make their own enquiries.
The property does offer some residential development potential, subject to obtaining the necessary planning permission and/or the rear garden could easily be converted to car parking. Interested parties are advised to make their own enquiries with the Local Planning Authority. The property does offer significant development potential in particular residential.
Property information from this agent
About this agent
Halls - Commercial Property
Halls Holdings House, Bowmen Way, Battlefield
Shrewsbury, Shropshire
SY4 3DR
01743 534860Halls Commercial provides a range of specialist commercial property services to clients of all sizes across the UK. We have a comprehensive knowledge of our markets developed over many years operating in this sector. Our service is forward thinking, personal and professional, designed to achieve the best results for our clients whatever their requirements. Although we operate nationwide, we retain a particular emphasis on the Midlands. Agency Services Our commercial agency team are on hand to offer friendly advice and market appraisals, helping you buy and sell commercial property throughout Shropshire, Worcestershire, Mid Wales, the West Midlands and beyond. We advise investors and developers on selling and acquiring commercial property, while also assisting with the acquisition of new premises or disposing of unwanted space. From offices and retail to industrial and leisure-based properties, we can guide you through the sale of all types of commercial property. Offering advice at every stage, we will help you find the best route to market and give you advice on how to attract the right buyers. We can also give guidance on development land, whether owner occupied or held as an investment. With strong links to buyers, our skilled and knowledgeable team are on hand to advise from start to finish. This includes guidance on any works required prior to sale, including applications for planning consent, refurbishment programmes and tenant disputes. Management Services Offering a strategic approach, we always have your future needs in mind. Whether you’re an experienced landlord or a one-off investor, we understand that your priority is to increase the value of your investment while minimising void periods and building a strong tenant profile. Working closely with our in-house marketing and PR team, we have a comprehensive tenant vetting process to help minimise your risks. If you’re looking to expand your commercial property portfolio, we will take the time needed to gain a full understanding of your needs and match you with properties suited to your business requirements within your timescales. Professional Property Services Halls Commercial is a team of RICS Registered Valuers with professional indemnity insurance cover of £10 million. As you would expect we are on the valuation panels of most of the major banks including Barclays, Lloyds, Royal Bank of Scotland, HSBC, NatWest, Handelsbanken, and Clydesdale. Our experienced team of valuers operates in accordance with RICS Valuation Standards (Red Book), International Financial Reporting Standards (IFRS) and UK GAAP and alongside the years of experience across our Commercial team, our valuations are backed by the latest valuation and appraisal software.