An historic semi-detached and derelict building in the docks area of Newport is set to be transformed into apartments after being acquired at auction.
The three-storey building, at 75/76 Lower Dock Street, close to the George Street Bridge, has been sold by Newport-based Paul Fosh Auctions.
Listed with a minimum opening bid guide price of £185,000 it was bought by an undisclosed local investor for £220,000.
The building already has planning consent to be converted into 12 apartments.
Debra Bisley, of Newport-based Paul Fosh Auctions, said: “The property has most recently been used as office space, but now benefits from planning consent for the creation of 12 flats. It is my understanding that the new owner intends to activate the existing planning permission and convert this fine old building into residential flats.
“The majority of the property comprises open space which has been stripped back ready for development. Currently located on the ground floor of the property is a garage space with inspection pit. The property may therefore be suitable for alternative use, subject to the relevant consents.”
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