Block of modern Newport city flats go up for auction

A block of nine flats in the Pill area of the city of Newport have come on the market.

The flats, at 50 Alexandra Road, and which are all occupied and returning a combined annual rental income of £42,000, are being sold by Newport-based Paul Fosh Auctions.

Angie Davey, of Paul Fosh Auctions, said: “This presents an excellent opportunity for an investor to buy a substantial block of nine self-contained flats. There are six, one bedroom flats and the rest are two bedroom self-contained flats across the three floors of the building. There is gas central heating and also two small courtyard areas.

“Each flat is to be sold with tenant, on an assured short hold tenancy agreement, in situ. Total rental income for the entire block is £42,000 per annum, with potential for yearly rent increases on every flat.

“The area of Pill provides a good selection of shops and cafes while the main town of Newport with its railway station is a short distance away as is the Royal Gwent Hospital. There are excellent commuter links via the M4.”

The block of flats, which is listed with a guide price of £351,000-plus, is being sold by Paul Fosh Auctions in its online sale which starts at 12 noon on Tuesday, November 8 and ends from 5pm on Thursday, November 10.