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Plot for sale
Planning Granted | Newport
£200,000
Planning Granted | Newport
£200,000
Our Summary
- Hollis Morgan – MAY LIVE ONLINE AUCTION – A Freehold DEVELOPMENT OPPORTUNITY to convert this ICONIC BUILDING into 9 x LUXURY FLATS with a GDV of circa £2
- 3M | Potential RENT £186,300 paFor Sale By Live Online Auction - ADDRESS | Drill Hall, Lower Dock Street, Newport, Wales NP20 1EF Lot Number TBCThe Live Online Auction is on Wednesday 14th May 2025 @ 17:30Registration Deadline is on Monday 12th May 2025 @ 16:00The Auction will be streamed LIVE ONLINE via the Hollis Morgan website & you can chose to bid by telephone, proxy or via your computer
- Registration is a simple online process – please visit the Hollis Morgan auction website and click “REGISTER TO BID”The Property - The Grade II Listed Drill hall which was completed in 1901 was the headquarters for the 3rd Monmouthshire Rifle Volunteer Corps
- Tenure - Freehold Utilities, Rights & Restrictions - Please refer to the Legal Pack Flood Risk - Please refer to the Legal PackThe Opportunity - PLANNING GRANTED | 9 FLATS Planning has been granted to convert this iconic property into a scheme of 9 luxury flats with a small commercial element
- FOR SALE BY ONLINE AUCTION
- FREEHOLD DEVELOPMENT OPPORTUNITY
- MAY LIVE ONLINE AUCTION
- RESI PLANNING GRANTED
Description
This is a unique development opportunity to purchase a Grade II Listed building, the former Drill Hall in Newport, Wales, with planning permission to convert it into 9 luxury flats and a small commercial element. The property, which has a rich history dating back to 1901, has been vacant since a fire damaged it in 2018. The proposed development will offer a range of apartments, including one and two-bedroom properties, with a total GDV of approximately £2.3 million. The potential rental income is estimated to be around £186,300 per annum. The property is being sold with vacant possession and is located in a prime area close to Newport city centre. The auction will be held online on May 14th, 2025, and interested parties can register to bid by telephone, proxy, or via their computer.