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John Street, NewportCommercial property for sale

£580,000
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About this property

• 12 x residential units • Potential redevelopment opportunity - subject to successful planning • Established Residential Location • Communal gardens • Freehold

LOCATION
Newport is the county town of the Isle of Wight with a population of 25,496 (2011 Census) at the head of the navigable section of the River Medina. It functions as the principal retail centre for the Island (estimated population 139,400) and also as an administrative hub. The town has reasonably significant modern industrial estates, but the economy has a strong reliance on tourist trade, with circa. 2.5 million tourist visits a year.

With regard to transport the main A3020 and A3054 meet approximately 0.5 miles to the east of Newport and the nearest ferry links to the mainland are at Cowes (five miles) and Fishbourne (six miles), with hovercraft services also available at Ryde (seven miles).

The property is situated on John Street off Robin Hood Street.

DESCRIPTION
The property comprise a two storey L-shaped block of flats estimated to have been built in the early 1950s. External walls are of traditional masonry cavity walls with a pitched roof including with roof overhangs to external circulation spaces.

10 x bedsits
2 x 1 bedroom apartments

The communal areas comprise of external access balcony walkways and covered staircase, giving access to the self-contained flats. The site area is 0.272 acres.

TERMS
Our client is asking Offers In Excess Of £580,000 for this freehold opportunity.

VAT
Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.

VIEWING
All viewings by prior appointment with the Joint Agent, Lisa Mercer, Hose Rhodes Dickson. Contact No:
01983 527727. Email: lisamercer@hrdiw.co.uk

Map

Brochure

Property Brochure

John Street, Newport

£580,000

Full PDF brochure containing all the details of the property in John Street, Newport - £580,000

Branch

Commerical

The Estate Office, 138 High Street, Newport, Isle of Wight, PO30 1TY

01983 527727

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Opening hours

  • Monday08:30 - 17:30
  • Tuesday08:30 - 17:30
  • Wednesday08:30 - 17:30
  • Thursday08:30 - 17:30
  • Friday08:30 - 17:30

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