Residential development for sale

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Residential development for sale

High Street, Newport
£650,000

Price History

Initial price £850,000
28/07/24 £650,000
Price Change -23.53%

Description

This property is a freehold site with planning permission to redevelop an existing retail building on the High Street into a mixed-use commercial and residential development. The plan is to create a large retail space on the ground floor, convert the first and second floors into five flats, and demolish existing outbuildings to build a new residential block of four units. The property is being sold as a whole or can be divided into three separate parts: a lock-up corner shop, a conversion for flats on the first and second floors, and a site for a brand new block of four flats facing Mill Street. The owner has a tenant lined up for the shop, and the property offers a unique opportunity for developers to create a new housing association or investment buy-to-let opportunity.