About this property
Development site for sale in central location in Newport.
Situated on Lower St. James Street, this development opportunity is in a great, central location.
Newport is the Isle of Wight’s County Town and has a population circa 25,500 (2011 census). The town offers various eateries, independent and multi-national retailers and easy links to the rest of the island via the central bus station.
Offered for sale is this investment development opportunity with planning permission for two different schemes.
Terrace of houses, flats and an office.
5 Terraced houses:
5 x one bedroom apartments with
1 x studio apartment
Planning permission was granted in 2017 for 20 apartments but this has now lapsed.
Currently on site are 3 commercial units. These ground floor units are currently tenanted and generating an income of £21,200 per annum.
Our client is asking Guide Price £250,000 for this freehold site.
Planning permission was granted for demolition of buildings and construction of proposed schemes. The current approval runs to 15th Feb 2022.
The plans and permissions can be viewed on iwight.co.uk/planning under application ref. P/01008/18.
All viewings to be arranged via HRD Commercial. Please contact 01983 527727.