House For Sale £73,000
3-9 Grafton Lane, Newport, NP19 0AT

FOR SALE BY AUCTION - -Lot 19 - Investment Opportunity
ONLINE AUCTION from 25th JULY-27th JULY

A semi detached, two storey building previously used as a public house, and most recently used as architects offices, this property would make an ideal investment.

The current owner has had architectural plans drawn for two flats, however they have not yet applied for planning permission. We would anticipate flats in this area achieving approximately £110,000 for a one bedroomed flat, and renting for approximately £725 per month.

The ground floor of the property is briefly comprised of two offices and a WC. On the first floor of the property there are 3 offices, a former bar area and kitchen.

Subject to relevant consents, this property may be suitable as a beauty salon, studio space, or for gym classes. Additionally, there may be scope for further development.

Location
Located in the city of Newport a short walk from the city centre, Newport train station and Newport bus station. This property is situated in a mixed development area with a number of residential and commercial properties within close proximity.

Services
The property benefits from gas, water and electric (not tested).

VAT
We have been advised that VAT is not applicable for this sale.

Business Rates
This property currently has a rateable value of £7,600 and is classified as offices and premises.

AccommodationFloorDescriptionArea Sq FtArea Sq MGround FloorRoom 1120.3411.18WCRoom 2158.8714.76First FloorRoom 3167.9115.6Room 4106.139.86Kitchen28.632.66Former Bar432.3840.17Room 5121.7311.31

Tenure:
Advised Freehold - to be verified by solicitor

Tenancies:
To be sold with vacant possession