Former Station Buildings, Queensway, Newport

The property comprises a high yielding office investment let to Newport City Council and occupying a desirable location adjacent to Newport Station.

Arranged across ground and four upper floors, the property provides 26,235 sq ft (2,437.23 sq m) of accommodation and is used as offices.

The property is let to Newport City Council, on a 16 year lease expiring 02.01.2028 and paying £317,250 per annum.

We consider the property offers a number of asset management opportunities via renewal of the lease upon expiry, re-letting or conversion/development to alternative uses (subject to obtaining the requisite consents).

The property includes an additional car park with approx. 17 spaces accessed from Queensway.

The property occupies an enviable location adjacent to Newport Rail Station, a junction station connecting the Great Western Railway routes and routes to North West England. The station provides a fastest journey time to Cardiff Central of 12 mins and a journey time of 20 mins to Bristol Parkway.

The property is let to Newport City Council on a 16 year lease expiring 02.01.2028 and paying £317,250 per annum.

The lease is on internal repairing & insuring terms and includes a long term maintenance charge which is paid by the tenant into a sinking fund. The lease is also within the Security of Tenure provisions of the Landlord and Tenant 1954 Act.