C E X Newport, Commercial Street, Newport

LOCATION
Newport, with a population of some 159,700, is the principal administrative and commercial centre for Gwent. The town is situated
13 miles east of Cardiff, 16 miles west of Severn Bridge and benefits from excellent road communications being adjacent to
Junctions 24-28 of the M4 motorway. In addition, British Rail provides regular InterCity services to London (Paddington).
SITUATION
The property is situated on the eastern side of Commercial Street, close to its junction with Austin Friars in a prominent position on
this pedestrianised street, which forms the main retail thoroughfare for the town. Occupiers close by include Santander, Boots,
Next, Costa, W H Smith, Starbucks, and O2 amongst others.
DESCRIPTION
The property is arranged on basement, ground and three upper floors to provide a deep ground floor shop unit with further sales
area in the basement and on the first floor. The second and third floors are used for storage, manager’s office, and staff
accommodation.
ACCOMMODATION
Gross Frontage: 23' 4”, Net Frontage:19' 4”, Shop & Built Depth :105' 8",
Basement Sales :718 sq ft, Basement Store:1,020 sq ft, Ground Floor Sales: 1,930 sq ft, First Floor Sales: 1,525 sq ft
Second Floor Staff/Store: 620 sq ft, Third Floor Store: 360 sq ft, Total: 6,173 sq ft
TENANCY
The entire property is at present let to C.E. X. Limited, for a term of 10 years from 28 June 2023 to 27 June 2033 at a current rent of
£30,000 per annum, exclusive of rates. The lease provides open-market rent reviews every fifth year of the term and contains full
repair and insuring covenants. CEX have an option to break on 27 June 2028
COVENANT
C.E.X. Limited operates 390 stores in the UK plus over 210 overseas, commenced trading over 34 years ago specializing in
technology, computing video games, and technology repair 2024 Turnover £181m / Profit before tax £4,9m .Net assets £18m
RENT: £30,000 per annum TENURE: Freehold VAT IS: Applicable
PRICE: Offers in excess of £295,000- 10% Net