Multi-apartment block in the heart of Newport with the office covering the majority of the ground floor and approx. 60 staff occupy the office during the working week (9-5pm). On the 2 upper floors and a small part of the ground floor there are 11 executive apartments that have just been newly completed and are all set up as show apartments, therefore they are ready to move straight into (let or sold). The apartments are all large 1 bed apartments except for one which is a very large 2 bed apartment. This apartment can be easily changed to 2 apartments if needs be.
Note: Individual Apartments can also be purchased and they range from £125,000 to £175,000
The property also has large basements.
Additionally, the top 3 apartments 7,8 & 9 have large attics that have already been professionally floored with larger spec'd joists and wired, so ready for simple changes to add additional beds/ensuites if required.
So, I’m virtually ready to sell all the apartments individually or happy to sell them all to the right buyer, I’m also happy to sell the entire building with all the apartments, as long as I’m given a min 10yr lease to remain in the offices with my staff, and for that privilege I’d be offering a fixed let of £30K p.a. for my company to remain in situ.
If we value all apartments individually, we are already over the £1.6M bracket, but for the right buyer I’d be willing to sell the entire building with the £30K p.a rent for a figure of around £1.8M.
Just think that this would be a perfect investment for the right buyer.
I’ve held off until now to offer the building because I wanted to wait until the new £16M market development was completed and this happened in the last few months. My building is right outside the market entrance.
Property Details:
Address: 8-11 Griffin Street, Newport NP20 1GL
Consists of:
10 off large 1 bed apartments, and 1 off large 2 bed apartment (Note: this apartment can be converted to 2off 1 bed apartments very easily if required), This apartment No.9 also has 2 large bathrooms. Additionally 3 of the 1 Bed apartments can also be changed to 2 Bed apartments with little work, Apartment No.6 also has 2 bathrooms. I'd also be willing to do the work if required.
All apartments are built and newly furnished to the highest of standards and are all presented as show homes. All have never been lived in, with new beds, bed settees, kettles, dining tables & chairs, toasters, bedside cabinets, bedding, pictures, mirrors, all white goods including Fridge/freezers, washer/dryers, dishwashers etc.etc.
One large open plan office area on ground floor with new desking for up to 60 staff, and includes Board room, Individual office, ladies and gents toilet areas, tea room, kitchen, presentation area and games room with pool table etc.
There is also lane access to the rear courtyard which has a large patio area with patio tables etc. This is currently used for office parties etc.
Tenure: Freehold (if entire property is purchased) Or Individual Leases for all individual apartments.
Annual Charges: Ground rent £50 p.a; Service Charge £350 p.a
Additional Notes:
If required I'm also happy to sell the apartments only if required, and I have already got individual leases for these if required.
The locals are calling Newport the hidden Gem, because we have Cardiff on the one side and Bristol on the other, both of these areas have really high property prices compared to Newport, so the only way is up!
Roof has just been refurbished, and entire exterior profile has also been refurbished maintaining conservation area.
Each apartment is fully sprinklered and all have German Efficient Clay Based Electric Heating system
The property is situated 50 yards from the main bus station and 300 yards to the main train station,
so great location.
On street permit parking allowed approx. £30/year
Lastly, local estate agents tell me that they could rent all apartments out in one afternoon,
