15 Scarrots Ln 1,865 SF Retail Building Newport PO30 1JD $228,005 CAD ($122.25 CAD/SF)

Freehold commercial investment for sale within the island’s main town centre of newport – tenancy and business unaffected.
Price guide - £120,000 freehold. Subject to the existing commercial tenancy in situ.
Gross yield on capital before costs estimated at 9.92%.
Tenure:
Advised Freehold, to be confirmed in legal documentation, and subject to an existing commercial tenancy in situ at a passing rent of £11,900 p.a.x. The lease is dated 28th July 2020 for a term of 12 years up to and including 1st July 2032. Our client’s title is held under Title Numbers IW12267 and IW75132. A copy of the relevant lease documents can be made available to bona fide applicants or their professional advisors, subject to signature of a confidentiality agreement.
Situated just a few steps from the main Town Centre and St. James Street, this is a rare opportunity to purchase a fully commercial investment, with an existing long-standing
tenant in situ.
The New Rembrandt Gallery has traded for many years in this location, and provides extensive accommodation for the main business and associated activities.
Newport itself is the County Town and administrative centre for the Island and, as such, is constantly busy, with a great many and wide variety of commercial occupiers both national and local within its boundaries.
The property itself is effectively semi-detached and is of traditional construction over three floors. Over the three floors, the total NIA is 1,865ft² (200.4m²).