02-06-2025
- Business
- South Wales Argus
Newport commercial property and flat up for auction
The building, located on Albert Avenue, is being sold by Number One Real Estate in Newport via the Modern Method of Auction.
The auction is powered by iamsold LTD, with a starting bid of £155,000.
The auction is set to end on Wednesday, June 11, at 4pm.
The property will only be sold if it meets the reserve price of £170,000, plus a reservation fee.
The Modern Method of Auction implies that the buyer and seller must complete the transaction within 56 days, known as the "Reservation Period".
Buyers interested in purchasing with a mortgage are advised to thoroughly inspect the property and consult with their lender before placing a bid.
The estate agent said: "This property presents a fantastic investment opportunity, offering both a commercial space on the ground floor and a self-contained flat above.
"Located in a prime area with excellent foot traffic, this mixed-use building is perfect for those seeking to combine business and residential elements."
The ground floor of the property features a bright and spacious shop front with ample display area.
It has direct access to a functional kitchen area and a cloakroom, providing convenience for both staff and customers.
At the rear of the commercial area, there is access to a ground floor storage room, as well as a basement-level storage area, which could be used for inventory, equipment, or additional business operations.
The first-floor apartment is accessible via a separate street entrance, ensuring privacy and independence from the commercial space below.
The apartment is well-appointed with one double bedroom, a spacious living area, and a fully equipped kitchen.
The bathroom is described as modern and practical, providing comfort for daily living.
The property is offered with no onward chain, making it an attractive choice for investors or those looking to secure a combined business and living space in a convenient location.
The separate entrance to the flat adds an extra layer of privacy for tenants or owners.
The estate agent added: "Whether you're looking to run your business from the ground floor while enjoying the flat above, or rent out both spaces for additional income, this property offers numerous possibilities.
"An excellent opportunity to generate a strong return on investment, this property must be viewed to appreciate its full potential."
Interested parties should note that a Buyer Information Pack is provided, and the successful buyer will be required to pay £349 including VAT for this pack.
The buyer will also need to sign a Reservation Agreement and make a non-refundable payment of a Reservation Fee of 4.50 per cent of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT.
This fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price.
All services and mains water are connected to the property, and the council tax is listed as Band B.
The property's EPC rating is D.
For more information or to arrange a viewing, potential buyers are encouraged to contact Number One Real Estate.
