Strictly speaking this could be a very shrewd investment

AN INVESTOR could be making all the right moves if they snap up a Newport city centre building which is the home to an award-winning dance studio.

Fully-let Alexandra House has a dance studio on the ground floor and the two upper floors have been converted to six, ultra-modern, penthouse apartments.

The pristine property at 1 Caerleon Road, Newport, is being sold by Paul Fosh Auctions with a guide price of £408,000-plus.

Sean Roper, who is choreographing the sale for the Newport-based auction business, said: “The property could be an ideal investment as, fully let, it generates income from the word go. The ground floor occupiers are a highly-regarded dance studio who have recently signed a new five year lease and each of the six self-contained apartments are also let.

“This is a sympathetic, high class and stylish very recent upgrade of an iconic building opposite Newport Cenotaph and within walking distance of the city centre.

“The total annual income generated from the fully let property is currently £45,780.

“Each of the apartments enjoys all new services with individual smart meters, new kitchens, with fridge/freezer & washer/dryer, bathrooms, flooring and decoration throughout. The property has a proven track record of good occupancy levels and the ground floor dance studio is let to a well-established tenant.

“The property is ideally situated in Newport city centre and there are excellent road links to the M4 motorway. The property benefits from new UPVC double glazing throughout and each of the flats has electric heating and water, heat extraction/ventilation, broadband connection and intercom door-entry.”

The property is among more than 70 lots which will be offered for sale by Paul Fosh Auctions in its online sale from Tuesday, February 2, starting at midday and ending from 5pm on Thursday, February 4.