The Tom Toya Lewis, 108-109 Commercial Street, Newport, NP20 1LW
The Tom Toya Lewis, 108-109 Commercial Street, Newport, NP20 1LW
The property is located in the Town Centre on the junction of Commercial Street and Palmyra Place. Newport is situated approximately 12 miles east of Cardiff and within easy travelling distance of the M4 motorway network.
A large freehold Town Centre public house and restaurant investment opportunity, currently let and producing an annual income of approximately £110,767 per annum. Believing to extend to approximately 30,000 square feet in total the property is let on a new 10 year lease from March 2018 to an established local publican with the added security of a personal guarantee. In addition to the current rent reserved for the pub and restaurant business there is a further approximate £10,767 per annum telephone mast income.
Approximately 781 sq m (934 sq yds)
The property is let to Victoria Garry group at an annual rent of £100,000. Three Hutchinson pay an annual rent of £10,767. Gross yield circa 22%.
THIS LOT WILL NOT BE SOLD PRIOR TO AUCTION
1) The property has not been inspected by the auctioneers at the time of publishing our catalogue details. The accommodation description has been provided by the vendor and therefore cannot be relied upon for accuracy. Prospective buyers are advised to make their own enquiries. We are advised that the second and third floors are blocked off.
2) Energy Performance Certificate = G.
3) The property is offered with an extended 8 week completion.
The contract has been amended to include title no. WA952996.
