Property Details
Pugh Auctions
Lot 094
Lot 094
Auction: December 2018

The Tom Toya Lewis, 108-109 Commercial Street, Newport, NP20 1LW

Property Details
Location

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.

Description

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.

Accommodation

Ground Floor
Bar and restaurant area
 
Cellar
 
First floor
Office anciliary accommodation, staff facilities
 
Second Floor
 
Third Floor

Approx Site Area

Approximately 781 sq m (934 sq yds)

Tenancy

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%.

General

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.

Addendum

The contract has been amended to include title no. WA952996.

Property Location Address:
The Tom Toya Lewis,
108-109 Commercial Street,
Newport,
NP20 1LW
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Auction Details
Auction: December 2018 Date: 6th December 2018 Lot Number: 094 Doors Open: 10:30am Bidding Starts: 12:00pm
Address:
AJ Bell Stadium,
Manchester,
M30 7EY

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