Commercial development for sale
Property description & features
- Attractive Retail/Residential Investment opportunity in popular location
- 3 storey terraced property within an existing High Street
- Providing ground floor retail premises & 3 flats above
- Producing a current rental income of £33,840 pa
- Grade 11 Listed Building
- EPC: Retail C-74, Flat 1 D-59, Flat 2 D-63, Flat 3 E-51
- Severn Hospice occupy the Ground Floor
Newport forms part of the Telford and Wrekin conurbation being approximately 5 miles north of Telford town centre, benefitting from good road communications with direct access to junction 3 of the M54 motorway and Watling Street (A5) via the A41 trunk road which links to Wolverhampton city centre. The property is prominently located on High Street being within
close proximity of Waitrose supermarket, Boots the Chemist and B&M Bargains.
ACCOMMODATION
All measurements are approximate:
Ground floor - Severn Hospice
1,112 sq ft (103.3 sqm)
First Floor
Flat 1 - 2 bedroomed
Flat 2 - 1 bedroomed
Second Floor
Flat 3 - 1 bedroomed
VAT
The property has not been elected for VAT.
TENURE
The property is available to purchase Freehold, subject to the occupational leases (as detailed in the attached Tenancy Schedule)
TERMS
Full repairing and insuring basis.
LOCAL AUTHORITY
Telford & Wrekin Council. Darby House, Lawn Central, Telford, TF3 4JA
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RATEABLE VALUE
Retail: £12,750 - VOA.
Council Tax: All Flats are Band A - VOA.
ENERGY PERFORMANCE CERTIFICATE
Retail C-74
Flat 1 - D59, Flat 2 - D-63, Flat 3 - E-51
LEGAL COSTS
All legal costs incurred in the preparation of the lease and counterpart lease together with any vat and stamp duty due thereon will be the responsibility of the ingoing tenant.
AVAILABILITY
Immediate.
VIEWING
Please contact our Newport Office, 45/47 High Street, Newport, TF10 7AT on[use Contact Agent Button] or email us [use Contact Agent Button]
TENANCY SCHEDULE
DEMISE
TENANT
PASSING RENT
LEASE DETAILS
75 High Street
(Ground Floor)
Severn Hospice
£13,500 per annum excl
*Lease dated 05Feb 2024
*6 years from 05Feb 2024
*Tenant's break clause and rent review at the end of the 3rd year
*Subject to a Photographic Schedule of Condition
Flat 1
(First Floor)
Tenanted
£595 per calendar month
*Lease dated 17 Aug 2022
*12 months
*Tenant holding over
Flat 2
(First Floor)
Tenanted
£550 per calendar month
*Lease dated 05 June 2023
*6 months
*Tenant holding over
Flat 3
(Second Floor)
Tenanted
£550 per calendar month
*Lease dated 27 Jan 2023
*12 months
*Tenant holding over
Total Rental Income
£33,800 per annum
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Property reference 9161. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Davies White & Perry - Newport.
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Broadband availability and predicted speed
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
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Energy Performance data and Internal floor area
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