Commercial Property for sale in Broad Street, Newtown, Powys, SY16
- Commercial opportunity in centre of town
- Offering a gross rent of £38,000 per annum which offers a return on the gross rent of 7.6%
- Ground Floor Retail Unit currently let to Betfred
- Separate Rear Unit currently let as Bed & Breakfast/Hostel accommodation
- Ground Floor Retail Unit comprising Office, Rear Area, Kitchenette, Cloakroom, Lobby, Cellar, WC's
- Rear Unit: Sitting Room & Lobby, First & Second Floor with 10 Ensuite Bedrooms
- Commercial EPC - C (61)
- EPC – C (61)
Commercial opportunity on the main Broad Street within the market town of Newtown. Offering a gross rent of £38,000 per annum which offers a return on the gross rent of 7.6%. Ground Floor Retail Unit let to Betfred. Separate Rear Unit let to a separate tenant for Bed & Breakfast/Hostel accommodation with 10 Ensuite Bedrooms. EPC – C (61)
Commercial opportunity on the main Broad Street within the market town of Newtown, offering a gross rent of £38,000 per annum which offers a return on the gross rent of 7.6%. Let to tenants, one being a national chain i.e. Betfred.
Ground Floor Retail Unit let to Betfred and the Rear Unit let to a separate tenant for Bed & Breakfast/Hostel accommodation.
Situated in a conservation area in the town with an area which we believe to be listed to the rear (listing information available from the Agents office – potential purchasers to make their own enquiries).
Newtown is a busy market town situated on the banks of the River Severn, the property located on the main street opposite the Spar, Wetherspoons, with railway station in the town, The town offers many nearby tourist attractions i.e. Powis Castle, Gregynog Hall, Montgomery Canal, also being close to a number of villages and small market towns, Shrewsbury 35 miles and the coastal seaside town of Aberystwyth 46 miles away.
The ground floor is let to Betfred on a 25 year lease from 11th October 2005 at a rent of £23,000 plus VAT per annum and is currently used a betting office.
The accommodation briefly comprises:
Front Betting Office 5.64m x 9.49m (53.52 sq.m)
Rear Area 3.19m x 2.73m (8.70 sq.)
Kitchenette inset stainless steel sink unit, worktop surface, base and wall units, tiled walls.
Cloakroom & WC washbasin, tiled floor, tiled walls.
Lobby with door to Cellar, door to rear.
Cellar 9.31m x 5.45m overall
Rear Lobby with store cupboard, rear door
Gents WC, Ladies/Disabled WC
Let to Mohammed Somir, Leased on a 5 year term from 1st July 2020, rent £15,000 plus VAT.
Mr Somir, trading as Ty'r Bont Service Studio accommodation
On the Ground Floor:
Sitting Room 3.16m x 3.76m; 5.73m x 2.85m
Inner Lobby with Disabled WC
Side Entrance Porch with staircase to first floor
On the First & Second Floor – there are ten ensuite Bedrooms with seven having a small kitchenette area with base, sink, hob, microwave & toaster.
Plant Room and Laundry Room
Access to the rear is off Wesley Street.
TENURE – Freehold subject to leases (leases available from the Agents offices)
By appointment with the Agents
Rateable Value: £11,250 per annum