Lot 1 - 103 Stow Hill, Newport, Gwent, NP20 4EA
- Unconditional Online Auction Sale
- Guide Price* : £460,000+
- Bedrooms: 12
- Bathrooms: 4
RARE INVESTMENT OPPORTUNITY – SUBSTANTIAL MULTI-INCOME GENERATING PROPERTY IN NEWPORT CITY CENTRE
Description
Generating an impressive annual rental income of £71,760, with further potential to increase returns.
Sage & Co Auctions are delighted to offer this rare opportunity to acquire a substantial and beautifully presented multi-income generating investment property, ideally situated on the highly sought-after Stow Hill, within the heart of Newport.
This impressive building offers an attractive and diverse income stream, comprising 10 individual self-contained studios, a separate 2-bedroom apartment and a ground-floor commercial premises, making it an exceptional opportunity for investors seeking an established, high-yielding investment.
Eight of the studios have been refurbished and are presented to an excellent standard, each benefiting from its own kitchen and living accommodation, together with shared access to three shower rooms conveniently located off the communal hallway.
To the rear of the building is a spacious, self-contained two-bedroom apartment, which further benefits from parking facilities. The ground-floor commercial premises, positioned to the front of the building, provides an additional source of rental income.
The property currently generates an impressive rental income of £5,980 per calendar month (£71,760 per annum), with excellent potential to enhance these returns further through rental reviews and the refurbishment of the remaining two studios.
One studio is currently out of use. There is water ingress from a roof issue which needs to be fixed and the room refurbished before it can be brought back into use as lettable accommodation. The current owners had planned to hold this property long-term and undertake the works themselves. Sadly, an unexpected change in circumstances has led to the difficult decision to sell.
The quality of the accommodation, together with its desirable and convenient location, has consistently attracted strong demand and a good calibre of tenant, making this a particularly appealing and established investment opportunity.
Situated on Stow Hill, the property enjoys an attractive position near the cathedral, within a short walking distance of Newport city centre, which offers an extensive selection of shops, restaurants, leisure facilities and everyday amenities. Excellent transport connections are also readily available, with Newport's main railway and bus stations nearby, providing convenient access to Cardiff, Bristol and beyond.
A fantastic opportunity to acquire a substantial, established and high-yielding investment property in one of Newport's most convenient and desirable locations. With significant rental income already in place, further potential for growth and internally refurbished accommodation presented to an exceptional standard, we anticipate strong interest from investors seeking a valuable addition to their property portfolio.
Please note that images shown are from when units were vacant and should be used as an indication only
Accommodation
Commercial Shop – £420.00 per calendar month. Currently let on an on-going commercial lease.
Basement Flat – £650.00 per calendar month. Let on an on-going occupational contract.
Room 1 – £595.00 per calendar month. Let on an on-going occupational contract.
Room 2 – £360.00 per calendar month. Let on an on-going occupational contract.
Room 3 – £550.00 per calendar month. Let on an on-going occupational contract.
Room 4 – £595.00 per calendar month. Let on an on-going occupational contract.
Room 5 – £595.00 per calendar month. Let on an on-going occupational contract.
Room 6 – £595.00 per calendar month. Let on an on-going occupational contract.
Room 7 – £530.00 per calendar month. Let on an on-going occupational contract.
Room 8 – £495.00 per calendar month. Let on an on-going occupational contract.
Room 9 – Currently vacant, offering potential for additional rental income.
Room 10 – £595.00 per calendar month. Let on an on-going occupational contract.
Tenancy Details
Rental Income Summary
Total Current Monthly Rental Income: £5,980.00
Total Current Annual Rental Income: £71,760.00
(see accommodation list for full breakdown)
Tenure
Tenure is advised as Freehold
Auction Fees And Additional Costs
The purchaser will be charged a buyers premium of 1.20% of the sale price with a minimum fee of £1,195 inc. VAT
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. 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.
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