£0
£2,000,000+

Commercial Property

£300,000

1 Newtown Buildings

FOR SALE

Photos

Description

Location

1 Newtown buildings is located north of St Helier town centre, close to the Millennium Town Park and a moment s walk away from the new Merchant s Square residential development including a Premier Inn Hotel with al fresco dining area and with 149 one and two bedroom apartments. Minden Place Car Park is a short walk to the south.

Description

The Hair Design salon provides an attractive addition to the David Place streetscape, benefitting from a decorative shop frontage within a Grade 4 listed building. Internally, the salon has been re-fitted by the current tenant, operating as a hairdressers and beauty salon, to a high standard incorporating the usual shop fittings together with a variety of basins and customer points to service the business. The unit has an integral kitchen / staff area and w.c. located to the rear of the unit. Prominent location Bright retailing space Attractively fitted out.



Accommodation

The Net Internal Area of the ground floor area is as follows: Retail 374 sq.ft / 34.75 sq.m Kitchen/Store 60 sq.ft / 5.54 sq.m.

Lease Terms

Ground Floor, 1 New Town buildings, David Place is held under an IRI lease which commenced on 25th March 2019 and expiries 24th March 2028 subject to 6 monthly tenant only rolling break options. The current rent passing is £16,704 pa (as of March 2022) with upward rent reviews every 3 years in line with JRPI.

Asking Price

The opportunity exists to acquire the flying-freehold of Ground Floor, 1 New Town buildings, David Place, subject to the above noted lease, for a consideration of £300,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield on the Gross Income of 5.55%.

Legal Costs

Each party to bear their own legal costs and any other costs incurred in the sale of this property.

Map

Show Map
View More Information

Estate Agent

Broadlands

Broadlands

1 Library Place
St Helier
Jersey
JE2 3NL
Call 01534 880770 View Profile View Properties