3-7 Clytha Park Rd 7,594 sq ft 100% Let Retail Property Newport NP20 4NZ £795,000 (£104.69/sq ft) 7.80% Net Initial Yield

Freehold, subject to the internally repairing and insuring leases (IRI), inclusive of service charge which will be in place from completion.
Guide price £795,000, representing a Gross Initial Yield of 7.8% and a capital value rate of £104.69 psf.
The subject property comprises a substantial three storey block occupying a prominent roadside position on the southern side of Clytha Park Road at the corner of Caerau Road. Five retail units make up the block which include The Rogue Fox (a licensed café) Well Pharmacy, The Cellar Door (a micro pub) and All About Eve (a bridal boutique), all of which have traditional shopfronts. The first and second floors are let to the Bridal Suite operator. There is car parking to the rear.
The subject property is situated on Clytha Park Road, a popular and busy retail parade on the western edge of the city centre, less than 250 metres from both Newport train station and the Civic Centre and Gold Tops, the principal office location in the city.
Clytha Park Road is represented by both national and local operator including Tesco Express, Gem 42 and Newport Orthodontic Centre,amongst others.
Newport, according to ONS has a population of c. 159,000 as of 2021 and is the sixth highest population of the 22 local authorities in Wales.
Planning: The property is assumed to be being used lawfully. The upper floors may be suitable for alternate use such as conversion to residential use (subject to all necessary consents and subject to vacant possession). Interested parties are advised to make their own enquiries to the local planning authority.