Monnow Street, Monmouth, Monmouthshire

LOCATION

The property is located in Monmouth on Monnow Street, which forms part of the towns main retailing pitch. This is a busy vehicular route linking the Monnow Street to the A449, which connects Birmingham to South Wales. There is easy access to the M48 and M4 motorway network to the south and the Severn Bridge. The immediate vicinity comprises a mix of national and independent operators including Costa, Coffee #1, Superdrug, Monmouthshire Building Society, TG Jones, Boots, Lloyds Bank, Waitrose, M&S Foodhall and Coffi Lab.

DESCRIPTION

 Current passing rent £38,592.00 per annum exclusive.
 Low passing residential rents, potential scope for improvement.
 Retail unit let to Timpsons Retail Limited who operate in over 1200 branches across the UK.
 Potential to convert the rear of the retail unit to a residential apartment subject to obtaining the necessary planning permissions and vacant possession/negotiation with the ground floor tenant.

ACCOMMODATION

The property has been measured in accordance with the RICS Code of Measuring Practice and comprises of the following approximate floor areas:
Description Sq M Sq Ft
Ground Floor
Sales 93.83 1010
Stores 24.06 259
ITZA 61.13 658
WC - -
Total Net Internal Area (GF) 117.89 1269

Upper Floors
Apartment 1 (3 Bed) 89.00 958
Apartment 2 (4 Bed) 120.96 1302
Total Gross internal Area (Upper floors) 209.96 2260

TENURE

The property is available freehold. The property is subject to the following occupational leases summarised below:

Retail Unit: Let to Timpsons Retail Limited for a 10 year term commencing 24 July 2018 at an annual rent of £24,000.00. The lease is held within the security of tenure provisions of the 1954 Landlord and Tenant Act (as amended). The 2023 rent review is unimplemented, and the tenant did not implement their break clause in July 2023. The lease is internal repairing and insuring to include glazing, with the Tenant to contribute towards a third of the expenditure by the Landlord towards external repairs/maintenance including the roof.

Apartment 1: Let to an individual via an assured shorthold tenancy commencing May 2023 at an annual rent of £7200.00.

Apartment 2: Currently let via a regulated tenancy from 1984. We are advised the current passing rent is £7392.00. We are advised the Tenant is due to vacate shortly.

SALE PRICE

£350,000.00 (Three hundred and fifty thousand pounds) exclusive.

A purchase at this price reflects a net initial yield of 10.67% after deducting purchasers costs at 3.33%.

BUSINESS RATES

The property is currently assessed for business rates/council tax as follows:

Retail Unit:
Rateable Value (1st April 2026): £21,750

Flat 1:
Council Tax Band: C

Flat 2:
Council Tax Band: D

Interested parties are advised to make their own enquiries with Monmouthshire County Council to ascertain the exact rates/council tax payable.

COSTS

Each party to bear their own legal costs incurred in the transaction.

VAT

All prices are quoted exclusive of VAT whether or not chargeable. We do not believe VAT is chargeable on the sale price but this will be confirmed.

PLANNING

We have not made any enquiries with Monmouthshire County Council with regards to the current planning consent, however, we have assumed that the property has planning for A1 (Retail) and C3 (Dwellinghouses) use under the Town & Country Planning (Use Classes) Order 1987. Interested parties are advised to make their own enquiries to ensure their proposed use would be permitted.

ENERGY PERFORMANCE CERTIFICATE (EPC)

Retail Unit: C (71)
Flat 1: D (58)
Flat 2: E (40)

A copy of the EPC certificates is available from the agents.

VIEWING & FURTHER INFORMATION

Strictly through sole agents Bladen Commercial Property Consultants:-

Kieran Bladen SUBJECT TO CONTRACT
May 2026


A copy of the leases/tenancy agreements are available to genuinely interested parties upon request to the agent.