Sole Agent
Opportunity to purchase a freehold building
Mixed use building
Excellent central location
Current rent roll of £48,682 pa
Potential Gross rental income £87,433 pa
Suitable for owner occupation or as an investment
Location
The property is located on Don Street, a short walking distance north of King Street which is home to a mix of high street brands and local retailers. The property is situated in a high footfall area, benefiting from strong visibility and constant passing trade throughout the day. Nearby occupiers include Sports Direct, Flannels, Hettich, New Look, Pandora, Accessorize and HSBC. Voisins Department Store is also very close by.
The location also offers convenient access to public car parking at Sand Street, Snow Hill and Minden Place which are all within easy walking distance
Description
The property is a 3-storey mid-terraced period building comprising of two retail/food units on the ground floor and two office suites on the first and second floors.
The former Ladbrokes retail unit comprises a timber framed shopfront and internally benefits from a good specification including solid floors, A/C and spotlighting. It was dedicated WC facilities and a kitchen. The other ground floor unit is occupied by Phire and is fully fitted restaurant unit with good modern specification.
The upper floor offices on first and second floors benefit from a good specification including suspended ceilings with spotlighting and excellent levels of natural light.
Tenancies
Please find below a list of the current tenancy situation:
Ground: Vacant retail.
Ground: 9-year lease paying £26,250 pa until August 2032, subject to a tenant only break in Aug 2029.
First Floor: 9-year lease with tenant paying £22,432 pa until June 2028.
Second Floor: Vacant offices.
The current rent roll is £48,682 pa, with a potential gross total rental income for the whole building - £87,433 pa.
More information can be provided on application
Accommodation
We are advised that building has been measured in accordance with the RICS Code of Measuring Practice and it provides a total net internal floor area in the region of 4,515 sq.ft (419.45 sq.m)
Retail Ground Floor 1,128 sq.ft 105 sq.m
Restaurant Ground Floor 649 sq.ft 60.3 sq.m
Office 1st Floor 1,330 sq.ft 123.64 sq.m
Office 2nd Floor 1,408 sq.ft 130.43 sq.m
Tenure
Freehold
Availability
The Property is available immediately, subject to completion of the legalities.
Asking Price
The opportunity exists to acquire the freehold interest of the property for a consideration of £995,000 exclusive of GST as applicable.
Legal costs
Each party to bear their own legal costs and any other cost incurred in the purchase of this property.
Viewing
Strictly by appointments with the sole agents Broadlands Commercial.
Nick Trower MRICS
Director – Commercial
T. +44 (0)1534 880770
M. +44 (0)7797 751558
nick@broadlandsjersey.com
www.broadlandscommercial.com
Evie Wills
Surveyor
T. +44 (0)1534 874141
M. +44 (0)7780 512345
evie@broadlandsjersey.com
www.broadlandsjersey.com
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