Hungry bidders snap up tasty Gwent city centre property at auction
Monday, May 22, 2023
A former restaurant with two flats above in the centre of Newport has been snapped up at auction after a bidding battle.
The three storey premises at 33 Charles Street, which was formerly The Secret Garden, sold for £162,000 after being listed with a guide price of £79,000-plus.
Debra Bisley of Newport-based Paul Fosh Auctions, said: "The former restaurant is ideally situated in the heart of the city of Newport on a street which leads straight down the hill into Friars Walk.
"There was quite an appetite for this property ahead of the sale which was reflected by the hungry bidding from a total of seven bidders over the three days of the online sale. There were 135 bids placed by the bidders who all seemed to recognise the potential this property has both in terms of possible commercial use, due to its history trading as a cafe/restaurant, and also in the prospects of the two flats, which offer a total of five bedrooms."
Debra said access to the flats is via a separate entrance the commercial premises. The first floor flat is currently vacant and is comprised of two bedrooms, bathroom and kitchen/ living area. The second floor flat is comprised of three bedrooms, a bathroom and living/dining room.
The commercial unit, most recently been used as a café, is comprised of a retail area, hallway and kitchen. There is also a basement area.
Located in Newport city centre within close proximity to Commercial Street and the Friars Walk shopping centre, there are a number of local and national retailers within close proximity including Primark, Superdrug and TSB Bank.
The property benefits from being within walking distance of Newport train and bus station at a prominent position on the intersection of Charles Street and School Lane.