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
    11/Jul/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    Withdrawn Post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
  • 42 High Street<br>Newport<br>Isle of Wight<br>PO30 1SE
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* More information on the term "price" can be found here

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.

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

Tenancy & Accommodation

FloorUseGross Internal Floor Areas
(Approx)
TenantTermRent 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).

Property Documents

  • Catalogue Page
    Updated Date
    19.06.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    19.06.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Band Hatton Button LLP 25 Warwick Road
Coventry
CV1 2EZ
Julie Calcott 02476 493 104JAC@bandhattonbutton.com

Useful Links

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