ONE of Newport’s collection of grandiose and imposing commercial buildings right in the heart of the city centre has come on the market.

The leasehold of the period, five-storey property, which until recently traded as a well established jeweller’s shop, at 3 Commercial Street Newport, is being sold by Paul Fosh Auctions.

The impressive property has been used for retail sales with an office and two secured safes on the ground floor with stairs leading to the basement. The first floor has two interconnecting rooms and the third floor has two more rooms with office or storage space also on the fourth floor. There are toilets and storage space on the lower ground floor.

Paul Fosh said: “Newport city centre is currently enjoying a substantial amount of regeneration and investment with a new shopping centre due to come on line which has already had Debenham’s confirmed the anchor store.

“There are also a number of national restaurant chains and retailers confirmed as occupants of this new development.

“The property, at 3 Commercial Street, would be ideal for persons looking for a substantial premises for their own business or potentially for an investor looking for a commercial property that may offer scope for rents estimated in the region of £15,000-£25,000 for the full building.”

Paul Fosh Auctions is offering 38 years of the original 50 year lease, with a peppercorn annual ground rent of £1,300, for a guide price of £78,000 plus.

The next Paul Fosh Auction, when this property and some 70 others will be up for sale, is on Thursday, February 13, starting at 5pm at The Park Inn Hotel, Circle Way East, Llanedeyrn, Cardiff CF23 9XF. For more details visit www.paulfoshauctions.com