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Lot 9 Click here for addendum

Freehold Ground Rent Investment with Valuable Reversion in 2027
6 week completion

Situation

Located close to the junction with Bideford Road amongst a host of independent traders.
Newport is a major commercial and administrative centre in South Wales and is located some 20 miles east of Cardiff, enjoying easy access via the M4 (Junction 28).

Property

A mid terrace property comprising a Ground Floor Shop and separate rear access to a Self-Contained Flat on the first floor.

Accommodation¹

Ground Floor Shop
Gross Frontage 20'2''
Built Depth 72'0''
WC
First Floor Flat
Believed to be 1 Bedroom, Living Room, Kitchen, Bathroom/WC
Area of Flat Approx. 517 sq ft

¹Not inspected by Barnett Ross. Measurements taken from Find maps.
Areas taken from EPC.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to A F Blakemore & Son Ltd t/a SPAR (having approx. 900 branches worldwide) for a term of 99 years from 25th December 1928 at nil ground rent.

Valuable Reversion in 2027

Note 1: The property interconnects with No. 195 which is let to the same tenant.

Note 2: The adjoining property (No. 195 Cardiff Road) is also being offered for sale in this Auction - see Lot 8.

Note 3: Nos. 187, 189, 191, 193 & 203 Cardiff Road are also being offered for sale in this Auction - see Lot 10.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

197/197a Cardiff Road, Newport, Gwent NP20 3BP