POWYS – COMMERCIAL INVESTMENT OPPORTUNITY
Newtown, Montgomeryshire
Ref: 94885
Freehold £375,000
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Key Features
Location
Newtown is a busy market town situated on the banks of the River Severn. The property is located on the main street opposite Spar and Wetherspoons. There is a railway station in the town plus many nearby tourist attractions such as Powis Castle, Gregynog Hall and Montgomery Canal. It is also close to a number of villages and small market towns: Shrewsbury (35 miles) and the coastal seaside town of Aberystwyth (46).
Commercial opportunity on the main Broad Street within the market town of Newtown, offering a gross rent of £38,000 per annum sharing a return on the gross rent approaching 10%. Let to Betfred and the rear unit let to a separate tenant for bed & breakfast/hostel accommodation.
Situated in a conservation area in the town with an area which we believe to be listed to the rear (listing information available from the agent’s office – potential purchasers to make their own enquiries).
The accommodation briefly comprises:
Commercial opportunity on the main Broad Street within the market town of Newtown, offering a gross rent of £38,000 per annum sharing a return on the gross rent approaching 10%. Let to Betfred and the rear unit let to a separate tenant for bed & breakfast/hostel accommodation.
Situated in a conservation area in the town with an area which we believe to be listed to the rear (listing information available from the agent’s office – potential purchasers to make their own enquiries).
The accommodation briefly comprises:
Property
BETTING SHOP
NB - BetFred, the tenants, are now the only betting shop in Newtown.
FRONT BETTING OFFICE: 5.64m x 9.49m (53.52 sq.m).
REAR AREA: 3.19m x 2.73m (8.70 sq.).
KITCHENETTE: with inset stainless steel sink unit, worktop surface, base and wall units, and tiled walls.
CLOAKROOM & WC: with wash basin, tiled floor and tiled walls.
LOBBY: with door to cellar, door to rear.
CELLAR: 9.31m x 5.45m overall.
REAR LOBBY: with store cupboard and rear door.
GENTLEMEN’S WC and LADIES’/DISABLED WC
THE APARTMENTS
Housed in a beautifully converted Georgian mill/barn are ten apartments operating as an independent business.
On the ground floor:
SITTING ROOM: 3.16m x 3.76m; 5.73m x 2.85m.
INNER LOBBY with DISABLED WC
Side entrance porch with staircase to first floor.
On the first and second floor:
TEN EN SUITE BEDROOMS with seven having a small KITCHENETTE area with base, sink, hob, microwave & toaster.
PLANT ROOM.
LAUNDRY ROOM.
NB - BetFred, the tenants, are now the only betting shop in Newtown.
FRONT BETTING OFFICE: 5.64m x 9.49m (53.52 sq.m).
REAR AREA: 3.19m x 2.73m (8.70 sq.).
KITCHENETTE: with inset stainless steel sink unit, worktop surface, base and wall units, and tiled walls.
CLOAKROOM & WC: with wash basin, tiled floor and tiled walls.
LOBBY: with door to cellar, door to rear.
CELLAR: 9.31m x 5.45m overall.
REAR LOBBY: with store cupboard and rear door.
GENTLEMEN’S WC and LADIES’/DISABLED WC
THE APARTMENTS
Housed in a beautifully converted Georgian mill/barn are ten apartments operating as an independent business.
On the ground floor:
SITTING ROOM: 3.16m x 3.76m; 5.73m x 2.85m.
INNER LOBBY with DISABLED WC
Side entrance porch with staircase to first floor.
On the first and second floor:
TEN EN SUITE BEDROOMS with seven having a small KITCHENETTE area with base, sink, hob, microwave & toaster.
PLANT ROOM.
LAUNDRY ROOM.
The Business
RENTAL INCOME/LETTINGS
The ground floor is let to Betfred on a 25 year lease from 11 October 2005 at a rent of £23,000 plus VAT per annum and is used as a betting office.
The rear unit is let to Mr Mohammed Somir on a lease agreement expiring in June 2028 at a rent of £15,000 per annum plus VAT. Trading as Ty’r Bont Service Studio accommodation.
The ground floor is let to Betfred on a 25 year lease from 11 October 2005 at a rent of £23,000 plus VAT per annum and is used as a betting office.
The rear unit is let to Mr Mohammed Somir on a lease agreement expiring in June 2028 at a rent of £15,000 per annum plus VAT. Trading as Ty’r Bont Service Studio accommodation.
Tenure
FREEHOLD £375,000 subject to existing leases which are available from the agents.
No direct approach to be made to the premises; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
No direct approach to be made to the premises; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Services
Mains electricity, water and drainage are connected.
Local Authority: Powys County Council.
Rateable Value: £11,250 per annum.
Local Authority: Powys County Council.
Rateable Value: £11,250 per annum.
Enquire about this listing
Robin Mence
Wales
Ref: 94885
