Retail premises to let

Location

The City of Newport is located in a prime strategic location close to
the border of England and Wales. It benefits from excellent access to
the M4 motorway and wider motorway network and provides regular
train services to London Paddington. The City has an immediate
population of approximately 137,000.
The property is located at the heart of Newport City Centre in a high
profile location. Clarence Place is one of the main arterial routes into
the city centre. The building is unmissable, overlooking the river by
Newport bridge.

Description

The property is a multi-storey building providing retail space, a
restaurant, serviced apartments and offices within it. It also benefits
from an adjoining car park.
The retail accommodation was previously used by Iceland
supermarket and is on the ground floor of the building with separate
access from the rest of the building. It benefits from open plan sales
area with suspended ceilings incorporating recessed lighting, tiled
flooring and a glazed frontage across of the width of the front
elevation. Ancillary areas to the rear provide kitchen, storage and WC
facilities.
There is rear access for deliveries. In addition, the unit benefits from
a dedicated car park to the rear providing 8 spaces.

Accommodation

Sales Area 506.96 sq m (5,457 sq ft)
Storage Area 139.57 sq m (1,502 sq ft)
Total: 646.54 sq m (6,959 sq ft)

Planning

We understand that the property benefits from planning consent for
retail use. However, we believe the property could be suitable for a
number of uses, subject to planning. We recommend that interested
parties make their own enquiries to the local authority.

Local authority

Newport City Council:
Tel: Rating assessment
rateable value: £49,250
rates payable: £26,348.75
Up to 100% rates relief could be available for 2023-24 through a
combination of wag and ncc support.

EPC

An EPC has been requested and will be available shortly.

Tenure

The accommodation is available to let by way of a new lease direct
with the landlord at a rent of £40,000 plus VAT. A service charge will
also be payable by the tenant with latest figures available upon
request.