ATTRACTIVE INVESTMENT/CONVERSION OPPORTUNITY
Summary
- Iconic landmark mixed-use commercial building
- Prominent elevated position fronting Old Kerry Road
- Rear yard and car parking
- Located adjacent to the Newtown railway station.
- Let to a range of leisure operators.
- Total rental income of £21,000 per annum exclusive.
- Attractive investment/conversion (STP) opportunity with strong asset management potential.
Accommodation
The accommodation comprises the following areas:
| Description | sq ft | sq m |
| - | 2,645 | 245.73 |
| - | 3,303 | 306.86 |
| - | 3,303 | 306.86 |
| - | 3,303 | 306.86 |
| - | 3,303 | 306.86 |
| - | 3,547 | 329.53 |
| Total | 19,404 | 1,802.70 |
Location
The property occupies a prominent, elevated position adjacent to the Newtown railway station and within a convenient walking distant of the main retail centre of Newtown and other amenities. The property is well located just off Old Kerry Road, and close to the main A489 trunk road, which in turn links to the Newtown bypass.
Newtown is centrally located in Mid Wales and is the principal economic and administrative centre for the area being situated approximately 30 miles west of Shrewsbury and the M54 and 40 miles east of Aberystwyth and serves a wide catchment area.
The town has a large and developing commercial/industrial base and has also benefitted from the recent opening of the Newtown Bypass. The town also has a mainline rail station on the Cambrian Line from Shrewsbury to Aberystwyth and Machynlleth to Pwllheli.
Get directions from Google Maps
Mainline Stations
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Newtown (Powys)1 min
-
Caersws99 mins
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Welshpool237 mins
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Llanbister Road248 mins
Underground Station
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Reading2381 mins
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Twyford2441 mins
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Chesham2460 mins
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Amersham2483 mins
Further Information
Price Offers in the region of £295,000
Description
The property comprises iconic landmark building dating from 1895, and extending to approx. 19,404 square feet (1,802 sqm) having high ceilings and traditional features throughout. The building was originally constructed in conjunction with the neighbouring Royal Welsh Warehouse, originally built for Pryce Jones, the founder of the world’s first mail order business in 1859.
The property has since been adapted and converted to provide flexible open plan commercial business space arranged over 6 floors with on-site car parking.
The building (with the exception of the top floor) is currently let and occupied for a range of leisure uses including a gym/personal training facility, indoor bowling alley, boxing club and martial arts centre producing a total rental income of £21,000 per annum exclusive.
The property offers an attractive investment and asset management opportunity or potential conversion for a range of alternative uses (subject to planning).
Terms
Offers in the region of £295,000 are invited for the freehold interest subject to and with the benefit of the current tenancies.
A sale at this level reflects a gross yield of 7.12% before Purchaser’s normal costs.
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