Planning Granted | Newport

Hollis Morgan – 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 pa

The Property - ADDRESS | Drill Hall, Lower Dock Street, Newport, Wales NP20 1EF

The Grade II Listed Drill hall which was completed in 1901 was the headquarters for the 3rd Monmouthshire Rifle Volunteer Corps. The hall was decommissioned in the 1960s and has been used as a religious building until a fire severely damaged it in March 2018. The property which is located on the corner of Lower Dock St and Caroline St, close to Newport city centre.
Sold with vacant possession.

Tenure - Freehold

The 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.
We understand the GDV is in the region of £2.3m

FLAT 1 – 2 BED | 66m2
FLAT 2 – 2 BED | 63.5m2
FLAT 3 – 1 BED | 49m2
FLAT 4 – 2 BED | 67m2
FLAT 5 – 2 BED | 76m2
FLAT 6 – 1 BED | 58m2
FLAT 7 – 1 BED | 67m2
FLAT 8 – 2 BED | 79m2
FLAT 9 – 2 BED | 81m2
GYMNASIUM / OFFICE SPACE | 93.5m2

COMMERCIAL

Interested parties may wish to investigate further planning and change of use on the commercial element to create additional residential flats.
Subject to consents

Newport City Centre Masterplan Area and the EOI Form for the grants earmarked for the development has been included in the Legal pack.
We understand that The Drill Hall is within the “Core City” regeneration region for the Place-maker Grants.

Planning Granted - TOWN AND COUNTRY PLANNING ACT 1990 [as amended]
Application No: 23/0743
Application Type: Full
Proposal: CONVERSION, REFURBISHMENT AND EXTENSION OF THE FORMER DRILL HALL TO CREATE A MIXED USE SCHEME COMPRISING NINE FLATS AND FIRST FLOOR OFFICE/GYM (RESUBMISSION FOLLOWING REFUSAL OF 22/1041)
Site/Location: Drill Hall, 58 Lower Dock Street, Newport, South Wales, NP20 1EF
Decision Date: 11th April 2024

Planning Information - Full details of the proposed scheme and drawings can be downloaded with the online legal pack.

Proposed Schedule Of Accomodation - GROUND FLOOR

FLAT 1 – 2 BED – 66m2
LIVING ROOM | KITCHEN | BEDROOM 1 | BEDROOM 2 | HALL | BATHROOM | STORAGE CUPBOARD

FLAT 2 – 2 BED – 63.5m2
LIVING ROOM | KITCHEN | BEDROOM 1 | BEDROOM 2 | HALL | BATHROOM | STORAGE CUPBOARD

FLAT 3 – 1 BED 49m2
OPEN PLAN LIVING ROOM & KITCHEN | BEDROOM | HALL | BATHROOM | STORAGE CUPBOARD

FIRST FLOOR

GYMNASIUM / OFFICE SPACE – 93.5m2

FLAT 4 – 2 BED – 67m2
LIVING ROOM | KITCHEN | BEDROOM 1 | BEDROOM 2 | HALL | BATHROOM | STORAGE CUPBOARD

FLAT 5 – 2 BED – 76m2
LIVING ROOM | KITCHEN | BEDROOM 1 | EN-SUITE | BEDROOM 2 | HALL | BATHROOM | STORAGE CUPBOARD

FLAT 6 – 1 BED – 58m2
OPEN PLAN LIVING ROOM & KITCHEN | BEDROOM | HALL | BATHROOM | STORAGE CUPBOARD

SECOND FLOOR

FLAT 7 – 1 BED – 67m2
LIVING ROOM | KITCHEN | BEDROOM 1 | BEDROOM 2 | HALL | BATHROOM | STORAGE CUPBOARD

FLAT 8 – 2 BED – 79m2
OPEN PLAN LIVING ROOM & KITCHEN | BEDROOM 1 | EN-SUITE | BEDROOM 2 | HALL | BATHROOM | STORAGE CUPBOARD

THIRD FLOOR

FLAT 9 – 2 BED – 81m2 (above heigh of 1.5m)
LIVING AREA | KITCHEN | BEDROOM 1 | EN-SUITE | BEDROOM 2 | HALL | BATHROOM | STORAGE CUPBOARD 1 | STORAGE CUPBOARD 2

Gdv & Rental Appraisal - FLAT 1 – £246,000 | £1,700 pcm | £20,400 pa
FLAT 2 – £225,000 | 1,650 pcm | £19,800 pa
FLAT 3 – £197,000 | 1,200 pcm | £14,400 pa
FLAT 4 – £250,000 | 1,700 pcm | £20,400 pa
FLAT 5 – £290,000 | £1,850 pcm | £22,200 pa
FLAT 6 – £200,000 | £1,300 pcm | £15,600 pa
FLAT 7 – £220,000 | £1,400 pcm | £16,800 pa
FLAT 8 – £280,000 | £1,850 pcm | £22,200 pa
FLAT 9 – £285,000 | £1,875 pcm | £22,500 pa
COMMERCIAL - £98,500 | £1,000 pcm | £12,000 pa

GDV - £2,291,500
RENT - £15,525 pcm
RENT - £186,300 pa

* Values provided to vendor by independent local agents.

Location - A popular residential location with easy access to Newport City Centre and excellent road networks to Cardiff & Bristol being just 2 miles from Junction 24 of the M4 at the Coldra and 2 miles from the city centre. Interested parties should note the removal of both Severn Bridge Tolls has made Newport and the surrounding areas extremely popular.

Property Details Disclaimer - Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact, and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation, or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide-angle lens. The seller does not make any representation or give any warranty in relation to the property, and we have no authority to do so on behalf of the seller.