51-52 High Street, Newport, NP20 1GA

Description

Substantial city centre property located in the main High Street of Newport city centre. The ground floor is currently vacant but has permission to be used as a licensed café/bar/restaurant from 9am until 3am. The property is to be sold with vacant possession. From its own independent access off High Street there is access to three further floors offering redevelopment potential subject to the usual consents. GIA 277.6 sqm (2,988 sqft).

Accommodation

Lower Ground Floor: Cellar. Ground Floor: A3 unit, currently vacant, presented as a bar, seating area, stage, kitchen, and separate male, female and accessible toilets. First Floor: Four office rooms, a kitchen and WC (93.3 sqm / 1,004 sqft). Second Floor: Four office rooms, a split landing to a kitchen and WC (91.8 sqm / 988 sqft). Third Floor: Four office rooms, a split landing to a kitchen and WC (92.5 sqm / 996 sqft).

Location

Located on the main High Street in Newport city centre. All prospective buyers are advised to contact Newport City Council regarding planning consents and available grants.

Tenure / Property Information

Investment Analysis

The £240,000 guide is materially above the supplied completed sale of the same property at £80,000 in June 2019. That historic transaction is not sufficient to establish current market value because no newer comparable, valuation, rental evidence or development appraisal is supplied. The property comprises 277.6 sqm of vacant commercial accommodation, including an A3 unit and three floors of offices, with redevelopment potential subject to consents. Known auction purchase costs at the guide are £4,200: £600 buyer premium plus £3,600 administration charge. Special Conditions costs remain unknown.

Investment Snapshot

Strategy Recommendation

Do not proceed at the guide without independent commercial valuation, rental evidence, full legal review and confirmation of planning potential, lease terms, condition and all Special Conditions costs. Any purchase should be based on a verified income or consented redevelopment appraisal.

Works Required

No specific defects or refurbishment requirements are evidenced. Potential works may include continued operation or fit-out of the existing café/bar/restaurant and possible redevelopment of the upper floors, but scope, costs and required planning or other consents are unconfirmed. Buyers should verify permissions and investigate available grants with Newport City Council.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be quantified because no supported GDV, rent, refurbishment budget or refinance valuation is available. The vacant possession and long lease provide an acquisition structure, but redevelopment of the upper floors remains subject to the usual consents and should not be assumed.

Buy-to-Let Analysis

BTL analysis cannot be established. No sufficiently specific rental comparable or auctioneer rent estimate is supplied, and the property is commercial rather than evidenced residential accommodation. Vacancy and any future letting configuration add leasing and consent uncertainty.

Flip Analysis

A flip appraisal cannot be supported. The only completed sale is the same property at £80,000 in 2019, with no current GDV evidence, works budget, selling allowance or commercial resale comparable supplied. The guide-price acquisition would also incur at least £4,200 of stated buyer and administration charges, before any Special Conditions costs.

Investor Risks & Due Diligence

• No current market valuation or sufficiently comparable commercial sales evidence is supplied.

• No rental evidence or passing income is available, so yield and debt-service analysis cannot be established.

• Redevelopment of the three upper floors is subject to planning and other consents and cannot be assumed.

• The property is vacant, creating letting, operating and void risk.

• Special Conditions may add search, seller-cost reimbursement, legal, transfer and other charges that are not quantified.

• The historic £80,000 sale from 2019 is not sufficient evidence of current value at the £240,000 guide.

Recommendation

Do not proceed at the guide without independent commercial valuation, rental evidence, full legal review and confirmation of planning potential, lease terms, condition and all Special Conditions costs. Any purchase should be based on a verified income or consented redevelopment appraisal.

Strategy Rating

Analysis Confidence

The evidence confirms the accommodation, tenure, vacancy, guide and stated auction charges, but provides no current valuation, rental evidence, refurbishment budget, GDV, planning confirmation or full purchase-cost schedule.