Office for sale in High Street, Newport, Isle Of Wight PO30
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- Located in the centre of Newport High Street over Waterstones book shop and O2 phone shop
- Substantial office accommodation or could be redeveloped to residential use subject to relevant consents
- Arranged over 3 floors, and running to approximately 534m2 (5,747ft2)
- Offered for rent, with the 1st floor being £16,000 p.a. And the 2nd and 3rd Floors available separately at £18,000 p.a., or offers in the region of £350,000 for a new virtual freehold (999-yr leasehold) interest
Property description
Location
Located in one of the highest footfall areas of Newport, the Isle of Wight's county town. It benefits from being next door to Waterstones, in close proximity to Halifax Bank and adjacent to St James' Square which is the home of 4 major banks and Costa Coffee. Other prominent retailers are in close proximity such as Holland & Barrett, Trespass, Boots, EE, and Clinton Cards. The immediate population of Newport is around 25,000 with a catchment of around 60,000 when operating as the comparison shopping centre for the entire Island population of around 140,000. Continued investment in the town ensures its importance as a retail and leisure centre.
Description
Building split over 3 floors with Ground Floor entrance off Newport High Street running to approximately 534m2 (5,747ft2). The First Floor offices, available from November 2023, run to a total of circa 232m2 (2,497t2). The Second and Third Floors, available from April 2024, run to a total of circa 302m2 (3,250ft2). The premises, as of late, have been used as office accommodation with the First Floor let separately to the second and third floors however it could be easily utilised as on substantial office, or let as two separate elements. Alternatively the building may well lend itself to residential development. It is worth noting that the building is listed. Please see floor plan for further details.
Terms
Offered for sale or rent, with the First Floor office suite being £16,000 per annum, the Second and Third floor offices being £18,000 per annum. The offices could be let as a whole by separate negotiation, or alternatively the property could be purchased, with offers invited “in the region of” £350,000 for a new 999-yr lease (virtual Freehold) of the upper floors.
Uniform Business Rates
Rateable Value: £15,500 + £7,600 (First Floor), £12,000 + £6,000 + £6,200 (Second and Third Floors)
2023/2024: £0.512p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning Business Rates on
Viewing
Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on . E: Or
Property info
For more information about this property, please contact
Gully Howard, PO38 on +44 1983 507984 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Gully Howard, and do not constitute property particulars. Please contact Gully Howard for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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Suite 11, Salisbury Gardens, Dudley Road, Ventnor, PO38 1EJ