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Search the Public Notice PortalA historic Grade II listed building in Newport is set to go under the hammer with plans to convert it into luxury flats.
The Drill Hall on Lower Dock Street, built in 1901, is scheduled for an online auction on February 11, 2026.
Auctioneers Hollis Morgan are handling the sale, with a guide price of £140,000.
The former headquarters of the 3rd Monmouthshire Rifle Volunteer Corps, the Drill Hall was decommissioned in the 1960s and later served as a religious building.
However, a fire severely damaged it in March 2018.
According to the estate agents, planning permission has been granted to transform the iconic building into nine luxury flats with a small commercial element.
The potential gross development value (GDV) is estimated to be around £2.3 million, with a projected rental income of £186,300 per annum.
The proposed development includes a mix of one and two-bedroom flats.
The first floor would also feature a gymnasium or office space.
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Hollis Morgan noted the possibility of further planning investigations to convert the commercial area into additional residential flats, subject to necessary consents.
The Drill Hall is situated within the "Core City" regeneration region for the Place-maker Grants, as outlined in the Newport City Centre Masterplan Area included in the legal pack.
The auctioneers also highlighted the property's location, with easy access to Newport city centre and excellent road networks to Cardiff and Bristol.
The removal of Severn Bridge Tolls has reportedly increased the attractiveness of Newport and its surroundings.
The auction, to be held online, is set to commence at 12pm on February 11, with the registration deadline on February 6 at 4pm.
Prospective buyers are advised to download the free legal pack available on the Hollis Morgan website or via an EIG account to gain detailed information about utilities, property accessibility, planning permission, and other crucial aspects.
Interested parties are encouraged to submit a viewing request online to arrange an appointment to see the property.
Completion is set for eight weeks or earlier, subject to mutual consent.
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