Lot 82 - 159 Commercial Street, Newport, NP20 1JQ
Lot 82 - 159 Commercial Street, Newport, NP20 1JQ
Addendum
Please note the guide price has been increased.
Guide Price* : £129,000+
- Unconditional Online Auction Sale
Lot 82 - Prime Commercial Investment
Description
ONLINE AUCTION from 16th DECEMBER-18th DECEMBER
An opportunity to acquire a commercial investment located in the heart of Newport city centre, let to the well-established national retailer Waterstones. The property will be occupied under a renewed 3-year lease commencing in September 2025, generating an annual rental income of £15,000. Waterstones have been in continuous occupation since 1999.
The guide price equates to £16.63 per sq ft.
We have been advised by the landlord that the lease is outside the Landlord and Tenant Act 1954.
There is also potential for residential development above the retail unit, subject to obtaining the necessary planning permission.
Waterstones was founded in 1982 and is a leading British bookseller. As of 2024, the company operates approximately 317 bookshops and employs over 3,600 people. A typical Waterstones branch stocks around 30,000 individual books. In addition to its nationwide store network, Waterstones operates a full online bookstore to meet modern e-commerce demand. For the financial year ending 27 April 2024, Waterstones Booksellers Limited reported a turnover of £528.4 million.
Newport city centre is a vibrant mixed-use location, home to major retail and leisure schemes including Friars Walk and the Kingsway Shopping Centre. The surrounding pedestrianised streets generate consistently high footfall, supporting a strong mix of national and independent retailers. The city has benefited from significant regeneration in recent years, evolving from a traditional industrial base into an emerging hub for technology, digital industries, and modern commercial activity.
Measurements
We have been advised that the total area of the premises is 6,013 sq ft. Internal floor plans and detailed measurements will be provided at a later date.
Tenancies
The property is sold subject to a renewed 3-year lease commencing in September 2025, at a passing rent of £15,000 per annum.
Tenure
Advised Freehold - to be verified by solicitor
Auction Fees And Additional Costs
Auction fees: The sale of each lot is subject to a buyer’s premium/admin fee of 1.5% of the purchase price (subject to a minimum of £1,500 for sale prices between £1 and £50,000 or subject to a minimum of £2,400 for sale prices of £50,001 upwards) including VAT unless otherwise stated.
Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Guide Price* : £129,000+
- Unconditional Online Auction Sale
Lot 82 - Prime Commercial Investment
Viewing
Paul Fosh Auctions
Office Contact
James Hollingsworth
Documents
Auction Finance
As a trusted partner of Paul Fosh Auctions, Together could offer the auction finance you need, when you need it. Visit togethermoney.com for more information.
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