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Newport

Newport investment
Available
Asking price
£700,000
Net initial yield
8.15%
Passing rent pa
£60,000

Bank Investment with asset management potential

149 Commercial Street

  • Wales’ third largest city
  • Undoubted Banking Covenant
  • 100% prime location.
  • Prominent corner building
  • Between the entrances to Friars Walk Shopping Centre
  • Let to TSB Bank PLC until September 2025
  • Rent £60,000 pa (£5.64 Psf overall)
  • Modern construction.
  • The upper floors are mostly unused – providing excellent potential for residential conversion, subject to planning.
  • With potential to re-gear the lease
  • Offers in the region of £700,000 - reflecting a Net Initial Yield of 8.15% after purchaser’s costs of 5.16%
  • The price equating to a capital value of £65.83 Psf on an overall basis
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