High Street, Caerleon, Newport, NP18

DESCRIPTION

A ground floor, mid terrace retail unit set within a Grade II Listed property in the popular town of Caerleon. The unit extends to approximately 570ft2 of retail space with large window frontage onto the High Street and comprises main retail area with counter to the front with further retail areas leading to a toilet and kitchen set to the rear of the unit. A large basement extending to approximately 375ft2 provides further storage space. The unit has been a popular gift shop for many years and is well positioned for retail use being within walking distance of many other local services and tourist attractions including roman amphitheatre, barracks, baths and museum. The unit has potential for alternative uses subject to obtaining the relevant planning consents.

SITUATION

The unit is located within the heart of the popular town of Caerleon just 5 miles from the city of Newport. Locally, Caerleon provides a range of pubs, restaurants, post office, village bakery and well regarded schools along with ancient roman ruins including roman amphitheatre, barracks, baths and museum making Caerleon a popular tourist location. Caerleon is also well placed for access to larger centres being less than 2 miles from Junction 24 of the M4 at the Coldra providing excellent transport links to Cardiff and Bristol.

OUTSIDE

The unit has direct access onto the High Street and is neighboured by the Ffwrrwm arts and crafts centre providing a range of gift shops, galleries and café. The High Street also provides a range of local shops, coffee shops, pubs and post office.

OPPORTUNITY

The property is available by way of a new lease to be written under the statute of the Landlord and Tenant Act 1954 excluding the renewal provisions contained within s24 to s28 of the same. Ideally the Tenancy term will be for at least 3 years with the opportunity of a Break Clause, if desired. The lease will be an Internal Repairing and Insuring Lease, with landlord responsible for external repairs and the structural insurance of which the premium will be recoverable from the Tenant. The Tenant will be responsible for internal repairs and insurance along with all outgoings including water, electric and business rates. The long leasehold of the ground floor retail unit is also available with approximately 70 years currently unexpired. Further information available upon request.

BUSINESS RATES

Current rateable value - £11,750

DEPOSIT

A deposit equal to two calendar month’s rent will be requested from the Tenant prior to entry. This will be returned minus any appropriate deductions at the cessation of the Tenancy.

SERVICES

Mains water; electric and drainage are understood to be connected however prospective Tenants/Purchasers are advised to make their own investigations in this regard.

LOCAL AUTHORITY

Newport City Council -

SET UP FEE

The tenant/purchaser will contribute £350 (plus VAT) toward legal fees

VIEWING

Strictly by appointment with the Agents: David James, Tel: .