42 High Street Newport Isle of Wight PO30 1SE

42 High Street
Newport
Isle of Wight
PO30 1SE

Prime Freehold Retail Investment

Let to A G Retail Cards Limited
Let for 5 years from December 2018 (by way of lease extension)
Well configured shop - approximately 405 sq m (4,360 sq ft)
Potential development/change of use to convert upper floors to residential (subject to lease and consents)
Town centre location in popular tourist and holiday destination
Nearby occupiers include Boots the Chemist, Holland & Barrett, Pandora, Costa Coffee, Co-op Food and H Samuel

Lot
14
Auction
11th July 2019
Rent
£75,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Prime Freehold Retail Investment

Let to A G Retail Cards Limited
Let for 5 years from December 2018 (by way of lease extension)
Well configured shop - approximately 405 sq m (4,360 sq ft)
Potential development/change of use to convert upper floors to residential (subject to lease and consents)
Town centre location in popular tourist and holiday destination
Nearby occupiers include Boots the Chemist, Holland & Barrett, Pandora, Costa Coffee, Co-op Food and H Samuel

Lot 14
Auction 11th July 2019
Rent £75,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 5 miles south of Cowes; 15 miles south-west of Portsmouth; 18 miles south of Southampton
Roads: A3020, A3054, M27, M275
Rail
Air: Southampton Airport

Situation

Newport is the county town of the Isle of Wight and is the centre of retail, administrative and industrial activity on the island. The town is well connected to surrounding towns, with fast passenger crossings to Ryde, Cowes and Yarmouth from the mainland. The property is situated on the southern side of High Street, in a prominent location close to St James' Square and St Thomas' Square. Nearby occupiers include Boots the Chemist, Holland & Barrett, Pandora, Costa Coffee, Co-op Food and H Samuel.

Tenure

Freehold.

Location

Miles: 5 miles south of Cowes; 15 miles south-west of Portsmouth; 18 miles south of Southampton
Roads: A3020, A3054, M27, M275
Rail
Air: Southampton Airport

Situation

Tenure

Freehold.

Description

The property is arranged on ground and three upper floors to provide a large and well configured ground floor shop with office, storage and staff accommodation above. The upper floors benefit from an entrance fronting High Street.

VAT

VAT is applicable to this lot.

EPC

Band D. See legal pack at acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

EPC

Band D. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Gross Internal Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Ground First Second Third/Attic	Retail Office/Ancillary Ancillary Ancillary	269.50 sq m 50.50 sq m 60.50 sq m 24.50 sq m	(2,901 sq ft) (544 sq ft) (651 sq ft) (264 sq ft)	A G RETAIL CARDS LIMITED (1) t/a Clintons	5 years from 22/12/2018 until 21/12/2023 on a full repairing and insuring lease	£75,000
Total		405.00 sq m	(4,360 sq ft)			£75,000

(1) Clintons is the trading name of AG Retail Cards Limited. Clintons was established in 1968 and is a leading retailer of cards and gifts, operating over 400 stores throughout the UK (Source: www.clintonsretail.com 06/06/2019).