7-21 (Odd) & 27-43 (Odd) Newport Road Caldicot Gwent NP26 4BG

7-21 (Odd) & 27-43 (Odd) Newport Road
Caldicot
Gwent
NP26 4BG

Substantial Freehold Ground Rent Investment

Let for 125 years until 2089 (74 years Unexpired)
Includes 18 Retail Units and 8 Residential Flats
Head Rent approximately 45% of all Rents Receivable with 7 Yearly Rent Reviews (Next in June 2019)
Strategic and Major Part of the Town Centre
Approximate Site Area of 0.68 Hectares (1.68 Acres)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
52
Auction
19th May 2016
Rent
£162,037 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Interested?

Expand
Photos
Map

Substantial Freehold Ground Rent Investment

Let for 125 years until 2089 (74 years Unexpired)
Includes 18 Retail Units and 8 Residential Flats
Head Rent approximately 45% of all Rents Receivable with 7 Yearly Rent Reviews (Next in June 2019)
Strategic and Major Part of the Town Centre
Approximate Site Area of 0.68 Hectares (1.68 Acres)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 52
Auction 19th May 2016
Rent £162,037 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Ground Rent
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 21 miles west of Bristol, 24 miles east of Cardiff, 6 miles south of Chepstow
Roads: M4, M48
Rail: Caldicot Railway Station
Air: Bristol Airport

Situation

Caldicot is a historic town located between Bristol and Cardiff and strategically located between the M4 and M48 motorways. The property is situated on the north side of pedestrianised Newport Road, the principal retailing street in the heart of the town centre. Major occupiers close by include Waitrose Supermarket, Barclays bank and HSBC bank.

Tenure

Freehold. (Land Registry Title No.WA701850).

Location

Miles: 21 miles west of Bristol, 24 miles east of Cardiff, 6 miles south of Chepstow
Roads: M4, M48
Rail: Caldicot Railway Station
Air: Bristol Airport

Situation

Tenure

Freehold. (Land Registry Title No.WA701850).

Description

The property comprises a parade of 18 retail units, with ground floor retail accommodation and a majority with first floor ancillary accommodation. There are also 8 self-contained residential flats on the first floor above 8 of the retail units. The property benefits from a substantial rear service yard and car park which is accessed via Jubilee Way. The property also benefits from having one of the town centre’s main car parks at the rear of the property.

The property falls within the area of Caldicot town centre regeneration. Initial thoughts include ‘improving, extending and remodelling retail frontages to accommodate larger retail units and a more interesting streetscape’. In addition, creating an apartment block on part of the rear public car park and part of the service road to create a strong frontage to Jubilee Way and improving the outward appearance of the town centre.
For more information see http://www.caldicottownteam.co.uk/wp-content/uploads/2016/03/Caldicot-VRDP-1.pdf

Six Week Completion

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review (Reversion)
Ground First (Part) First (Part)	Retail Ancillary Residential	2,083.43 sq m 394.88 sq m 8 self-contained Residential flats	(22,426 sq ft) (4,251 sq ft)	MW PROPERTIES (3) LIMITED	125 years (less 3 days) from 24/06/1964 until 2089	£162,037	24/06/2019 and 7 yearly thereafter (1)
Total Commercial Area		2,482.23 sq m	(26,719 sq ft)	MW PROPERTIES (3) LIMITED	125 years (less 3 days) from 24/06/1964 until 2089	£162,037	24/06/2019 and 7 yearly thereafter (1)

(1) The rent is reviewed every 7 years to a formula detailed in the lease assignment, equating to approximately 45% of “all Rents Receivable”. The current rent is based on an Annual Income Value of £359,270. Please see legal pack for further information.