Planning Granted | Newport

This Grade II Listed building, originally completed in 1901 as the headquarters for the 3rd Monmouthshire Rifle Volunteer Corps, presents a promising development opportunity for investors. Following a fire incident in March 2018, the property has been vacant and is now primed for transformation into nine luxury flats, with planning permission already secured for this conversion. The potential gross development value (GDV) of approximately £2.3 million reflects significant market interest. The strategic location near Newport city centre furthers its appeal, positioning it within an area undergoing regeneration efforts. The layout includes a mix of one and two-bedroom flats spread across three floors, alongside designated space suitable for commercial use or possible further residential expansion, subject to consents. Given its status and required restoration due to prior damage, this project offers both renovation scope and investment yield.