117-118 High Street Newport Isle of Wight PO30 1TP

117-118 High Street
Newport
Isle of Wight
PO30 1TP

Freehold Retail Investment and Development Opportunity

Attractive Grade II Listed building with 2 shops and vacant separately accessed upper floors
Tenants include Waterstones and O2
Waterstones let on a renewed lease at a rebased rent until January 2030 (no breaks)
O2 let until May 2028
Positive pre-app received for change of use of the upper three floors
Includes substantial car park with 22 spaces operating as a short term pay as you go car park
Site area of 0.15 Ha (0.37 Acres)
Total floor area of approximately 1,167.83 sq. m. (12,838 sq. ft.)

Lot
10
Auction
10th July 2025
Rent
£95,799 per Annum Exclusive
Plus self contained and separately accessed vacant upper floors
Status
Sold
Price
£1,000,000
Auction Venue
Live Streamed Auction

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Freehold Retail Investment and Development Opportunity

Attractive Grade II Listed building with 2 shops and vacant separately accessed upper floors
Tenants include Waterstones and O2
Waterstones let on a renewed lease at a rebased rent until January 2030 (no breaks)
O2 let until May 2028
Positive pre-app received for change of use of the upper three floors
Includes substantial car park with 22 spaces operating as a short term pay as you go car park
Site area of 0.15 Ha (0.37 Acres)
Total floor area of approximately 1,167.83 sq. m. (12,838 sq. ft.)

Lot 10
Auction 10th July 2025
Rent £95,799 per Annum Exclusive Plus self contained and separately accessed vacant upper floors
Status Sold
Price £1,000,000
Sector
High Street Retail, Development
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 12 miles south west of Portsmouth, 15 miles south of Southampton
Roads: A3, A3054, M27, M275
Rail: Ryde Esplanade, Ryde St Johns Road
Air: Isle of Wight Airport, Southampton Airport

Situation

The property is situated on the north side of High Street in the busy heart of Newport town centre. Nearby occupiers include Tesco Express, JD Sports, Holland & Barrett, H. Samuel, EE, Vodafone and Trespass.

Tenure

Freehold.

Location

Miles: 12 miles south west of Portsmouth, 15 miles south of Southampton
Roads: A3, A3054, M27, M275
Rail: Ryde Esplanade, Ryde St Johns Road
Air: Isle of Wight Airport, Southampton Airport

Situation

Tenure

Freehold.

Description

The property comprises an attractive Grade II Listed building providing 2 ground floor shops together with separately accessed upper floors (via High Street) and a substantial rear car park accessed via Lugley Street. The upper floors may be suitable for change of use subject to consents.

VAT

VAT is applicable to this lot.

Planning

The Vendor has received a positive pre-app on the property from Isle of Wight Council for converting the three upper floors of Bugle House which are above the shops, from offices to high end hospitality serviced accommodation. Further details are available within the legal pack.

Completion Period

8 week completion available.

EPC

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

Description

VAT

VAT is applicable to this lot.

Planning

Completion Period

8 week completion available.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.
Ground	Retail	290.00	(3,121)	TELEFONICA UK LIMITED t/a O2	5 years from 09/05/2023	£39,000
Ground Part First	Retail Ancillary	295.90 45.70	(3,185) (491)	WATERSTONES BOOKSELLERS LIMITED t/a Waterstones	A term from 23/12/2024 until 31/01/30	£40,000
Part First Second Third		233.20 219.49 83.54	(2,510) (2,632) (899)	VACANT
Car Park	22 space car park			TOTAL CAR PARKS LIMITED	Management Agreement (2)	£16,799 (2)
Total		1,167.83	(12,838)			£95,799

(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
(2) The car park is ANPR controlled and managed by Total Car Parks Limited with whom the Seller share a revenue split as a management agreement. For the year ending March 2025 the Seller received £16,799.33 +VAT.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.