Retail premises for sale in High Street, Caerleon NP18

Location

The subject property is situated in the centre of the town set back from the main High Street running through the sought-after town of Caerleon.

The High Street is a main thoroughfare characterised by shops, restaurants and cafes as well as residential properties. The Celtic Manor resort lies within two miles of the property.

The property is situated close to the Roman Amphitheatre and is understood to be the original site of the Porta Praetoria, the southern gate to the Roman legionary fortress of Isca.

Caerleon is situated approximately 5.0 miles east of the City of Newport, 2.4 miles east of Junction 25 of the M4, and 5.8 miles southeast of Cwmbran.

Description

The subject property comprises of a two storey and single storey building with a restaurant at the High Street end, with various office and storerooms above. To the rear of the restaurant there are five separate shop units, occupied by a variety of local traders. There is also an outside seating area for the restaurant and a unique sculpture garden with antique statuary, carved artworks including a depiction of the Battle of Camlan and world’s largest lovespoon (further information in Marketing Pack). The total site area extends to approximately 0.23 acres (0.091 ha).

Nb. NP Linnells are instructed to sell the neighbouring Caerleon House residential freehold block of flats which currently forms part of the same title. Therefore a sale including Caerleon House would be considered. Further details available on request.

Accommodation

The property comprises the following Gross Internal Floor Area:

Unit Tenant gia Lease Details Passing Rent
Restaurant & Art Gallery t/a The Snug 80.44 sq. M (866 sq. Ft) 5 years from date of completion (inside the Act) £15,000
1 t/a Natural Healh 21.06 sq. M
(227 sq. Ft) 5 years from date of completion (inside the Act) £3,120
2 Vacant 22.36 sq. M (241 sq. Ft) 5 years from date of completion (inside the Act) Vacant
3 t/a Rafi Goldsmith 21.07 sq. M (227 sq. Ft) 5 years from date of completion (inside the Act) £3,120
4 t/a Spirit of Awen 25 sq. M (269 sq, ft) 5 years from date of completion (inside the Act) £3,120
5 t/a @Unit5 295 sq. M (312 sq. Ft 5 years from date of completion (inside the Act) £3,120
Upper Floor t/a 62.72 sq. M (675 sq. Ft) Vacant Vacant
totals 107.65 sq. M (2,816 sq. Ft) £27,480 increasing to approx. £43,000 when fully let.

Tenure

Freehold, subject to the internally repairing and insuring leases (iri), inclusive of service charge which will be in place from completion.

Guide price

£400,000.

Planning and development

The property is being used as a restaurant, shops, and sculpture garden. The upper floors may be suitable for alternate use such as conversion to residential use (subject to all necessary consents). Interested parties are advised to make their own enquiries to the local planning authority.

Method of sale

Interested parties are invited to make final unconditional bids by midday Thursday 4th July 2024. Bids are to be made in writing and are to include the amount offered with proof of funds, details of the perspective purchaser, and their legal advisors.

Local authority

Newport City Council.

Energy performance certificate

An EPC has been commissioned.

Legal costs

Each party will be responsible for their own legal and professional costs incurred in the transaction.

Further information

Please view our website or Zoopla for more photographs and specific information relating to the property. Also, title documentation, tenancy details and copies of the EPC are available upon request. Viewing is strictly by appointment.