Property Information
Address:
The Griffin, City Centre, Newport
, NP20 1GL
Price: £199,950
Size: 719 sq ft67 sqm
Primary Category: Pub
All Categories:
Investment, Leisure, Pub,
Property Ref/Movehut: MH568253
Property Ref/Agent: The Griffin, City Centre, Newport, NP20 1GL
*Please use the agent ref when calling the agent directly.
Property description
LOCATION
The City is located in a prime strategic location standing at the gateway between England and Wales. It benefits from excellent access to the M4 and wider motorway network. The City has an immediate population of approximately 137,000. Newport has and continues to undergo significant redevelopment making it a better place to live, work and shop.
The property is on Griffin Street, located between High Street and Upper Dock Street. The new Friars Walk development is in close proximity providing in excess of 390,000 sq ft of retail and leisure space, home to many national retailers including Debenhams, Cineworld and Next.
Surrounding occupiers are a mixture of office, retail and leisure uses with occupiers including Newport Indoor Market, Tiny Rebel, Subway, McDonalds and many more. All the amenities of the city centre are available within walking distance.
DESCRIPTION
The property provides a three storey, mid terrace, mixed use building in the heart of Newport city centre.
The ground floor provides a former pub however, could be used for a number of different uses, subject to the appropriate planning permission. The accommodation provides a regular shape, open plan bar area with male & female WC’s, kitchen and storage/ barrel room.
The first floor provides a 2 bedroom flat, currently let at £450 per calendar month. The second floor also provides a 2 bedroom flat and this is currently let at £380 per calendar month. The flats are accessed independently from the ground floor unit.
ACCOMMODATION
Ground Floor 66.79 sq m (719 sq ft)
First Floor 2 bedroom flat
Second Floor Offices 2 bedroom flat
PLANNING
We understand that the ground floor of the property benefits from planning consent for a pub. However, we recommend that interested parties make their own enquiries to the local authority.
RATING ASSESSMENT
RATEABLE VALUE: £6,600
RATES PAYABLE: (2019/20) £3,472*
* Some occupiers may qualify for ‘small business relief’ which will provide a discount on this figure.
Interested parties should contact the business rates department at Newport City Council for more information.
TENURE
The entire property is available to purchase on a freehold basis. This will include the benefit of the rental income from the 2 flats, totalling £9,960 per annum. We are quoting a price of £199,950.
Alternatively, our client will consider a letting of the ground floor unit. We are quoting a rent of £10,000 per annum, exclusive.
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