About this property
Opportunity to purchase an investment property in Newport Town Centre.
LOCATION
The property occupies a very busy corner position in Newport town centre, close to St Thomas’ Square and on a main pedestrian route from the High Street to Marks & Spencer. The property sits amongst a mix of popular boutique stores and close to St Thomas’ Church. St Thomas’ Square hosts the weekly farmers market and is a popular destination year round.
Newport is the principle town of the Island and offers amenities including St Marys Hospital, various primary and secondary schools, doctors surgeries, churches, cinema and the Isle of Wight County Hall.
DESCRIPTION
Offered for sale is this investment property with a tenant on a new 5 year lease from 2023.
God’s Providence House was constructed in the late 17th Century with red brick and a tiled roof. The structure is recorded in the National Heritage List for England as a designated Grade II* listed building. During the 16th century the house was reputed to be the only house in the town in which there were no deaths from the plague. The building was damaged by fire in 1701, and was partly rebuilt. It is one of the oldest extant buildings in the town.
The property offers accommodation over 3 floors as follows:
Ground Floor:
Main café and tearoom area 4.35m 6.92m
Dining area 3.91m x 3.62m
Dining area 4.19m 3.24m
Commercial kitchen
First Floor:
Parlour 6.96m x 4.32m
Store / Larder 3.95m x 2.99m
Staff room 5.12m x 3.08m
Office 4.13m x 3.83m
Laundry Room 3.48m x 1.78m
Ladies & Gents WC’s
Second Floor Flat:
Lounge 4.0m x 6.48m
Bedroom 1 2.47m x 4.1m
Bedroom 2 2.68m x 4.76m
Kitchen 2.67m x 2.69m
Bathroom 2.53m x 1.62m
EPC: D
SERVICES
The property benefits from mains electricity, water, gas and drainage.
TERMS
Our client is asking guide price £300,000 for this freehold investment opportunity.
OUTGOINGS
The VOA shows a ratable value of £32,000. Rates payable circa £16,000.
VIEWING
All viewing to be arranged via HRD Commercial on 01983 527727 or joint agent Wootton Estate Agents on 01983 883333.
