14 - 15 Commercial Road Newport Gwent NP20 1HE

14 - 15 Commercial Road
Newport
Gwent
NP20 1HE

Substantial Freehold Bank Investment

  • Let to Barclays Bank Plc until 2028 (subject to option)
  • Prominent corner position fronting Commercial Street
  • The tenant has recently completed a refurbishment programme, details of which are available in the legal pack
  • Nearby occupiers include Debenhams, Sports Direct, Iceland and WH Smith
  • VAT-free bank investment
  • Lot
    60
  • Auction
    19th October 2017
  • Rent
    £155,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Substantial Freehold Bank Investment

  • Let to Barclays Bank Plc until 2028 (subject to option)
  • Prominent corner position fronting Commercial Street
  • The tenant has recently completed a refurbishment programme, details of which are available in the legal pack
  • Nearby occupiers include Debenhams, Sports Direct, Iceland and WH Smith
  • VAT-free bank investment
  • Lot 60
  • Auction 19th October 2017
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
12 miles north-east of Cardiff
Roads
A48, A449, A4042, M4
Rail
Newport Railway Station
Air
Cardiff Airport
Situation

The property occupies a prominent corner position, fronting the prime pedestrianised Commercial Street and returning onto Corn Street, Newport's principal retailing thoroughfare. Friars Walk Shopping Centre is located less than 150 metres from the property, housing retailers including Debenhams, M&S Food Hall, New Look and Topshop. Other occupiers on Commercial Street include Boots the Chemist, WH Smith, Sports Direct, Costa, Starbucks and branches of Halifax, Santander and TSB banks.

Tenure

Freehold.

Location
Miles
12 miles north-east of Cardiff
Roads
A48, A449, A4042, M4
Rail
Newport Railway Station
Air
Cardiff Airport
Situation

The property occupies a prominent corner position, fronting the prime pedestrianised Commercial Street and returning onto Corn Street, Newport's principal retailing thoroughfare. Friars Walk Shopping Centre is located less than 150 metres from the property, housing retailers including Debenhams, M&S Food Hall, New Look and Topshop. Other occupiers on Commercial Street include Boots the Chemist, WH Smith, Sports Direct, Costa, Starbucks and branches of Halifax, Santander and TSB banks.

Tenure

Freehold.

Description

The property, a substantial Grade II listed building, comprises a ground floor banking hall, with ancillary accommodation on the basement and office accommodation on the first, second and third floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property, a substantial Grade II listed building, comprises a ground floor banking hall, with ancillary accommodation on the basement and office accommodation on the first, second and third floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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
Basement
First
Second
Third
Banking Hall
Ancillary
Offices
Offices
Offices
359.46 sq m
228.20 sq m
295.17 sq m
290.77 sq m
272.49 sq m
(3,869 sq ft)
(2,456 sq ft)
(3,177 sq ft)
(3,130 sq ft)
(2,933 sq ft)
BARCLAYS BANK
PLC (1)
20 years from
22/01/2008 (2) on a full
repairing and insuring
lease
£155,000 25/03/2019
(21/01/2028)
Totals
1,446.09 sq m
(15,565 sq ft)
    £155,000  

(1) For the year ending 31st December 2016, Barclays Bank Plc reported pre-tax profits of £4,383,000,000 and a total net worth of £60,085,000,000 (Source: Experian Group 19/09/2017).
(2) The lease is subject to a tenant option to determine on 22nd January 2023 and a schedule of condition.

Property Documents

  • Catalogue Page
    Updated Date
    11.11.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    11.11.19
    File Size
    4 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Progeny Corporate Law Progeny House, 46 Park Place
Leeds
West Yorkshire
LS1 2RY
Bethany Clegg +44 (0)113 468 2448bethany.clegg@progenycorporatelaw.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now