Sole Agent
Location
The former Sugar Reef premises, which comprise a prominent, beach-side restaurant/bar that has recently been refurbished to a high specification on both ground and first floors. It benefits from direct, unrivalled sea views over the bay.
The property is surrounding by a host of other food and beverage outlets including the Oyster Box, Jersey Crab Shack, Pizza Express, The Beach Club, La Brise Kitchen, Midbay Cafe, Solshine Cafe and with main hotels including L’Horizon, St Brelade’s Bay Hotel and the Golden Sands Hotel.
There are also 3 large public car parks close by with bike racks, electric charging points and also the regular 12A and 14 bus routes, with the bus stops which are only 2 minutes’ walk away.
Description
This well-known beach side restaurant/bar has recently been refurbished to a high specification on both ground and first floors and the benefit with unraveled sea views over the bay.
The property is split as per the below:
Ground Floor: Café/restaurant, bar, kitchen, WC’s, external terrace and stores.
First Floor: Restaurant, kitchens, WC’s, external terrace.
Second Floor: 5-bedroom staff flat.
Floor plans showing the layout of the property can be provided on request.
The property also benefits from vacant possession and which can be occupied/traded immediately and the property also benefits from a planning consent (P/2023/1004) which could provide an extension of approx. 500 sq ft area to the first floor balcony.
Rates
The total Parish Rates payable on the property are:
£8,802.96 per annum (2023)
Sub Lease
The premises are available by way of a new 9-year EFRI Sub-Lease at a rental of £125,000 per annum. Longer terms will be considered subject to negotiation.
Ingoing
The Sub-Lessor has finished the property to a high-quality finish and requires an ingoing of £300,000.
Head Lease
The opportunity also exists to acquire the head lease interest (FRI Lease ending 20/03/2053 at a rental of £96,000 per annum) of the property including all furniture, fixtures and equipment, for a consideration of £1,000,000 exclusive of GST as applicable.
Legal Costs
Each party to bear their own legal costs and any other cost incurred in the sub-letting of this property.
Viewing
Strictly by appointment with the Sub-Lessor’s sole agent.
Nick Trower MRICS
Director – Commercial
T. +44 (0)1534 874141
M. +44 (0)7797751558
nick@broadlandsjersey.com
https://broadlandscommercial.com/
Buying or leasing commercial property can be a complicated process, but that’s where Broadlands come in. Well established, and with many years experience, our friendly and knowledgeable team are more than ready to help you find the right commercial property for you
Learn what your home is worth
Start the selling process with an honest valuation.
The first step to selling is an accurate assessment of your home’s value.
Please fill out and return this form, and we will be in touch within one working day with a knowledgeable and honest valuation. We will also include our recommendations for your next steps in the selling process and how we can guide you so you can move forward with knowledge and confidence.
