Single storey Investment property in excellent order in this busy retail area of Newport. Rental income of £12,500pa representing an Initial Gross Yield of circa 14%.
The shop itself is operated by a well-established hairdressing and beauty business and we understand a new five year full repairing and insuring (FRI) lease extension has recently been agreed at £12,500 pa but please consult the legal pack for verification of all tenancy details
The building itself has an attractive modern shopfront and briefly comprises a main salon area running right through to the rear of the building with three private therapy rooms to the one side of the building. To the rear is a store, kitchen and WC and small outside courtyard area.
165a Caerleon road is located in the popular St Julian’s area of Newport and is approximately 2 miles east of the city centre. There is a good mix of local and national occupiers nearby including Greggs, Boots and Co-op.
GF - Main salon, 3 x therapy rooms, rear lobby, kitchen, WC
OS - Rear courtyard.
Informed Freehold – please refer to legal pack for verification of tenure
Viewing by appointment with Seel and Co – www.seelandco.com/auctions
Buyer's Premium - 1.20% with a minimum of £1,200 (inc of VAT) payable on exchange of contracts. Please refer to the legal pack for any further disbursements to be paid by the purchaser on completion.
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.
Auctioneers Office, Seel and Co (029) 2037 0117
FOR SALE BY PUBLIC AUCTION on Tuesday, 4 February 2025 online via the Seel and Co website. Bidding will commence from midday on Monday, 3 February and conclude in order from Lot 1 at 4:00 pm on Tuesday, 4 February 2025
We've partnered with Cornerstone Commercial Finance to offer a wide range of finance options from bridging loans to development finance.
Apply for Finance* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.
