A BUILDING in the heart of the city, synonymous with Newport’s burgeoning music scene, could strike a chord with investors and go for a song at auction.

The mid-terraced property at 51-52 High Street is home to established American diner and music venue Slipping Jimmy’s. The independent business is unaffected by the sale of the building.

Newport-based Paul Fosh Auctions is selling the four-storey city centre venue, which also has a basement.

The property, which offers a total space of some 630 sq m (6,780 sq ft), has a guide price of £75,000-plus.

Matthew Jordan, of Paul Fosh Auctions, said: “This is a prominent city centre property which has Slipping Jimmy’s on the ground floor, a basement and vacant offices on the first, second and third floors.

“The property, which is adjacent to Ye Olde Murenger House, pub and restaurant, is close to the city’s railway station with a good mixture of retail, pubs and restaurants along High Street.”

The building is close to a new hotel, Hotel Fifty-Five, which is set to open next month.

The property is included as one of some 76 lots being offered for sale at the auction on Thursday, February 7, at The Park Inn Hotel, Cardiff, starting at 5pm.