The property is a semi-detached brick clad single storey building of steel framed construction under a flat roof with false roof pitches concealing air handling plant. The external elevations are brick incorporating glazed panels. Internally, the layout contains an open plan restaurant, reception/bar, toilets and kitchen with direct access to an enclosed yard to the rear for delivery, storage and refuse. The restaurant finishes include laminate flooring, glazed walls, modern suspended ceiling with inset lights and suspended lighting.
Location
The property is prominently located on Newport Leisure Park, three miles east of the town centre, adjoining Newport Retail Park where occupiers include Tesco, Next, Peacocks, Boots, Asda Living, Marks & Spencer and New Look. Adjacent occupiers on the Leisure Park include a Starbucks Drive Thru, a McDonald’s Drive Thru, Harvester, Burger King, JD Gym, Home Bargains and Cineworld. The Property is close to Junctions 24 and 23A of the M4 motorway via the A48 Southern Distributor Road and A4810. In the immediate area there are also a number of car showrooms, which include a Citroen, Kia, Peugeot and Hyundai dealerships
Accommodation
4,146 sq. ft (385.18 sq. m).
Terms
Planning In the adopted Newport Local Development Plan (2011-2026) the Property is allocated as part of the Newport Retail Park. It was formerly allocated for leisure and recreation in the superseded Unitary Development Plan.
Business Rates Interested parties should make their own enquiries to Newport Council to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the ratings assessment. www .voa.gov.uk. The Rateable Value is £88,500 as at 1 April 2023 making rates payable £47,347.50 for 2023/24.
Energy Performance Certificate The Property has an EPC rating of D – 76 expiring 16 May 2028.
Code for Leasing For the latest RICS advice on commercial property leasing, please consult the RICS Real Estate Code for Leasing 2020
Lease/Tenure/Terms The property is available on a new full repairing lease with terms to be negotiated.
Rent The property is offered to let at £65,000 per annum exclusive of VAT.
Legal Costs Each party is to be responsible for their own legal costs.
References/Rental Deposits Financial and accountancy references may be sought from any prospective tenant prior to agreement.
Prospective tenants may be required to provide a rental deposit subject to the landlord’s discretion.
VAT Under the Finance Acts 1989 and 1997, VAT may be levied on the rent/purchase price. We recommend that the prospective tenants/purchasers establish the VAT implications before entering into any agreement.
AML A successful tenant/purchaser will be required to provide relevant information to satisfy the AML requirements when Heads of Terms are agreed.