Griffin Street, Newport


Guide price

A Rare Opportunity to Acquire an Attractive Well Let Property.

Total Area of 1,011.99 sq m (10,893 sq ft)

Good Development Potential

Location :

Newport is located approximately 22 kilometres (14 miles) north-east of Cardiff, 40 kilometres (25 miles) north-west of Bristol and 217 kilometres (136 miles) west of London and is Wales' third largest city with a population of 145,700 (2011 census). It is the home to part of the Univer-sity of the South Wales and hosted the Ryder Cup in 2010. The city is on the main rail line with a journey time to Lon-don Paddington of circa 2 hours.

Friars Walk opened in November 2015 and is 390,000 sq ft of retail and leisure space which includes a 90,000 sq ft Debenhams department store, an 8 screen Cineworld cine-ma and a wide range of shops including Top Shop, Next, New Look, River Island and H&M and 11 restaurants in-cluding Nando's, GBK, Chiquito as well as Loungers, Waga-mama and Le Bistrot Pierre.

Description :

The property comprises a mid-terrace building over three storeys extending to 10,893 sq ft. There is a basement in-corporating WC area and cellar, ground floor incorporating bar, WC and commercial kitchen area, first floor bar and dance area and a second floor area.

Accommodation :

Basement 105.35 sqm (1,134 sqft)

Ground 338.99 sqm (3,649 sqft)

First 340.79 sqm (3,668 sqft)

Second 226.86 sqm (2,442 sqft)

Total 1,011.99 sq m (10,893 sq ft)

Business Rates:

Rateable Value- £107,000

Rates Payable - £51,574


We believe mains electricity, gas, water and drainage are connected to the property however this should be verified by any interested parties.


The property benefits from planning for A3. We recom-mend you contact the local authority regarding your in-tended use.


Rating - E101.


The property is let to Inventive Leisure Ltd on FRI terms for a term of 25 years from 17/3/04 at a rent of £62,000 pa with rent reviews 5 yearly. Inventive Leisure Ltd (02824084) have a Dun & Bradstreet rating of 4A2 (lower than average risk of business failure). The tenant has stated their desire to quit the lease.

Quoting Price:

The property is available freehold at a quoting price of £600,000. The property is elected for VAT and we under-stand that the sale can be treated as a Transfer of a Going Concern (TOGC).

Legal Costs:

All parties to be responsible for their own legal costs. In-curred in any transaction.

Viewing & Further Information:

Viewing strictly by prior appointment with the sole agent:

Steven Roberts T: 07703 610736


Arrange viewing 01633 376360

Nuttall Parker - Newport

7 Baneswell Road, Newport

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