Grade II listed Newport city centre building up for auction
The 11,523 sq ft property, located at 7-8 Commercial Road, is being auctioned by Auction House South Wales Newport.
The auction, scheduled to open on Monday, June 23, 2025, at midday and close on Wednesday, June 25, 2025, at midday, presents a significant investment or development opportunity.
The building currently generates £11,500 per annum in rental income.
The ground floor is leased by a tenant at £10,000 per annum, while the upper three floors and basement, leased to Sports Retail Ltd, contribute £1,500 per annum to the total income.
According to the estate agent, terms have been agreed for the ground floor to be let at £20,000 per annum to Luxury Leisure, trading as Admiral, for a ten-year term.
The details of this agreement will be available in the legal pack.
The premises, situated on the pedestrianised section of the main high street, are surrounded by a mix of national and local retailers.
Recent developments in the area include the Newport Food Market, Mercure Hotel, and the conversion of the Chartist Tower into residential apartments.
The estate agent suggests that there are several future redevelopment options for the property, subject to contract and planning.
They also note that while Sports Direct holds a lease on the upper floors, they are not currently occupying the space.
This situation could potentially offer an opportunity to negotiate the return of the long lease from the company.
Interested parties are advised to conduct their own measurements of the property, although third party estimates put the ground floor at approximately 2,711 sq ft, the first floor at 4,382 sq ft, and the second floor at 4,430 sq ft.
No measurements are currently available for the third floor.
VAT is payable on the purchase of this property, and further lease details are held within the legal pack.
The property has an EPC rating of C.
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South Wales Argus
18 hours ago
- South Wales Argus
Grade II listed Newport city centre building up for auction
The 11,523 sq ft property, located at 7-8 Commercial Road, is being auctioned by Auction House South Wales Newport. The auction, scheduled to open on Monday, June 23, 2025, at midday and close on Wednesday, June 25, 2025, at midday, presents a significant investment or development opportunity. The building currently generates £11,500 per annum in rental income. The ground floor is leased by a tenant at £10,000 per annum, while the upper three floors and basement, leased to Sports Retail Ltd, contribute £1,500 per annum to the total income. According to the estate agent, terms have been agreed for the ground floor to be let at £20,000 per annum to Luxury Leisure, trading as Admiral, for a ten-year term. The details of this agreement will be available in the legal pack. The premises, situated on the pedestrianised section of the main high street, are surrounded by a mix of national and local retailers. Recent developments in the area include the Newport Food Market, Mercure Hotel, and the conversion of the Chartist Tower into residential apartments. The estate agent suggests that there are several future redevelopment options for the property, subject to contract and planning. They also note that while Sports Direct holds a lease on the upper floors, they are not currently occupying the space. This situation could potentially offer an opportunity to negotiate the return of the long lease from the company. Interested parties are advised to conduct their own measurements of the property, although third party estimates put the ground floor at approximately 2,711 sq ft, the first floor at 4,382 sq ft, and the second floor at 4,430 sq ft. No measurements are currently available for the third floor. VAT is payable on the purchase of this property, and further lease details are held within the legal pack. The property has an EPC rating of C.
Telegraph
5 days ago
- Telegraph
Labour's latest EPC idea would be laughable if it weren't so pernicious
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Telegraph
15-06-2025
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Landlords face higher EPC bills as Labour's reforms kick in
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