A Newport city centre commercial property currently occupied by a financial services firm is heading to auction, offering investors immediate rental income.
The three-storey building at 7 Bridge Street is being sold by Paul Fosh Auctions and is currently let to Harvey Bowes Financial Services, which has occupied the premises since 2018.
The tenant generates £28,000 per year in rental income, offering a potential buyer an established commercial investment from day one.
The property sits in a prominent position in Newport city centre and is located next door to the Lamb public house.
WISE MOVE
James Hollingsworth, of Newport-based Paul Fosh Auctions, says: “This commercial property, which is being sold with established tenant Harvey Bowes in situ, could be a wise move for an entrepreneur looking to make an instant return on their investment.
“The property is listed with a guide price of £125,000.
“Newport is a rapidly growing city transitioning from its industrial heritage into a recognised tech and digital hub.
“The Welsh city has been identified as one of the top cities in Wales for starting and establishing businesses, benefiting from comparatively lower operating costs and strong business retention than local rival commercial centres such as Cardiff or Bristol.
“Newport is located approximately 12 miles northeast of Cardiff and has a population in excess of 160,000. The city benefits from excellent road and rail connectivity, with convenient access to the M4 corridor and direct rail services to Cardiff, Swansea and London.”
The property will be among around 100 lots offered in the next Paul Fosh Auctions sale, which takes place online from 12 noon on Tuesday, 10 March and closes from 5pm on Thursday, 12 March.
