Summary - Commercial Street, Newport NP20 1LN
16 bed 13 bath Residential Development
Large character building with planning permission for 13 flats, vacant and chain-free.
Freehold vacant mixed-use building in pedestrianised city centre
A rare freehold development opportunity in Newport city centre, offered vacant and chain-free. The property comprises large characterful upper floors above two ground-floor retail units, with planning permission (ref 22/0542) for conversion to 13 flats (10 x 1-bed & 4 x 2-bed). High ceilings, sash and arched windows and a prominent Victorian façade give strong rental and resale appeal once refurbished.
The location is a major strength: pedestrianised Commercial Street, directly opposite Friars Walk shopping mall, high footfall and close to the indoor market, main train station and M4 links to Cardiff and Bristol. Ground-floor retail could generate immediate income or be incorporated into a wider mixed-use scheme; possible council grants may be available to support renovation.
The building requires full development and upgrading throughout and is offered as a blank canvas for developers or investors. Notable constraints include very slow broadband in the immediate area, very high local crime and very deprived area statistics, which will affect tenant mix, management costs and lettings strategy. The site is vacant and offers flexible purchase options for an investor prepared to manage refurbishment and ongoing lettings.
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