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Unit 1 Towngate Retail Park, Newport, PO30 5HF
Use Class
E
Size
7,922 sq ft
Rent pa
£87,500
Description
The subject unit extends to approximately 7,922 sq ft (736 sq m) GIA, partly subdivided at the rear to provide internal storage
Accommodation
7,922 Sq.Ft
Financial
Lease Type
New Lease
Lease Term
Available by way of a new commercial FR&I lease for a term to be agreed with five-yearly upward-only rent reviews. The Landlord will insure the building, with the tenant to pay their proportional share of the building’s insurance premium. The current occupying business is unaffected; however, the occupier is now on flexible lease terms, which can be terminated on one month’s notice if possession is required. Otherwise, possession is subject to satisfactory completion of legal documentation
Rent
Subject to contract, rental offers are invited in the region of £87500 per annum exclusive of rates, service charge, VAT (if applicable) and all other outgoings.
Rates
Please note that the valuation office have the postcode for this unit listed as PO30 5DA. Applicants may wish to verify this information, and details of any current ratings relief schemes available, with the Rating Office on 01983 823920
Costs
Each party to bear their own
Service Charge
The service charge budget for 2021-2022 is £2.36 psf per annum
Rates
Sustainability
Energy Performance Certificate
Energy Performance Certificate Information
Certificates available
This unit is part of Towngate Retail Park
Towngate Retail Park
The Isle of Wight is a renowned tourist destination welcoming over 2.6 million visitors a year contributing in excess of £275m to the local economy. The subject property is situated in Newport, the administrative centre of the Isle of Wight. Towngate Retail Park is highly prominent and sits within the main retail warehouse cluster on the island. It is also a short walk away from Newport town centre. Let to established national retailers: Halfords, Snap Fitness and Benson for Beds. The property totals 20,093 sq ft producing a net rental income of £224,920 pa, reflecting a low average rent of £11.65 psf WAULT of c. 6.4 years to expiry and 4.6 years to break options. Freehold.
Misrepresentation Notice
All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.
All data ©2025 Completely Property Technology Limited
This was last updated on 06/08/2024