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Ground Floor Unit 222241 62 High Street, Newport Isle of Wight PO30 1BA CHARTERED SURVEYORS COMMERCIAL PROPERTY AGENTS RETAIL INDUSTRIAL OFFICE INVESTMENT BUSINESS TRANSFER DEVELOPMENT LAND MANAGEMENT RENT REVIEWS LEASE RENEWALS VALUATIONS ARBITRATION ACQUISITIONS EXPERT WITNESS HISTORIC BUILDINGS CONSULTANCY DIRECTORS NICK BUCKLE BSc(Hons) MRICS GAVIN CHAMBERS BA(Hons) GRANT HIGGS JAMIE WHITTLE BSc(Hons) PgDipSurv MRICS SHAUN WOOLFORD MBA BSc(Hons) Dip Proj Man MRICS REGISTERED OFFICE 62 High Street, Newport, Isle of Wight PO30 1BA Registered in England and Wales No. 6477562 Vat No. 928 0215 39 62 HIGH STREET NEWPORT ISLE OF WIGHT PO30 1BA TEL 01983 822555 ___________________ MERRITTS FARM WHITE HORSE LANE WATERLOOVILLE PO7 6QL TEL 02392 257224 ___________________ EMAIL [email protected] www.gullyhoward.com PRIME RETAIL SPACE TO LEASE NEWPORT HIGH ST. Opportunity to lease a large retail unit in Newport High Street The unit sits directly opposite Prezzo with Poundland, Poundstretcher, Tui Holidays and B&M Stores all adjacent The unit offers 10,000 square feet of prime retail space with designated service yard to the rear Available by way of a New FR&I Lease at £125,000 per annum exclusive LOCATION Located in Newport High Street immediately opposite to Prezzo Restaurants and Tui Holidays and adjacent to Card Factory, Poundland, Poundstretcher and a newly opened B&M Stores (former BHS premises) next door. There is some on-street parking outside and a large Council Car Park very close by. Newport is the Island's County Town and commercial and administrative centre and draws from the total population of circa 140,000, considerably boosted by large numbers of visitors estimated at around 2.3 million per year. The town boasts a popular Farmer's market in St Thomas Square which, together with St James Square just along the High Street are home to many eateries with outdoor seating attracting large numbers of Islanders and visitors alike to enjoy the cosmopolitan atmosphere they create. The town also has excellent road and transport links to the rest of the Island with the main bus interchange located in the heart of the South Street Retail Park a few minutes away. This provides excellent links to the passenger ferries from Southampton and Portsmouth bringing thousands of day trippers over to the Island each year. DESCRIPTION A large retail unit (formerly an HMV then a Poundland store) with substantial glazed frontage to the High Street. The ground floor offers 10,000 square feet of prime retail space and runs to a total GIA of 1,000.09 sq m (10,761 sq.ft) with a net internal area of 1,000 sq m (10,761 sq.ft) including storage and staff facilities. OUTSIDE The property benefits from a designated service yard to the rear of the premises with access from Pyle Street. TERMS Available by way of a new 10 year FR&I Lease at £125,000 per annum exclusive. Rent Review at 5 years, upward only. UNIFORM BUSINESS RATE Rateable Value: £157,000 2018/2019: £0.493p. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability/concession that may be applicable.
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