For Sale
£555,000
Asking Price

Quality Niche Investment

1 Burrard Street

St Helier Property Breakdown
1,500 sq.ft Total Property Size
£555,000 Asking Price

Description

The property is located within St Helier's Central Business District being immediately to the North of the prime retailing areas of Halkett Street, Beresford Street, Halkett Place, King Street, Queen Street and the two town central markets.

More specifically, the property is positioned fronting both Burrard Street and Rue du Funchal and is within close proximity of Minden Place multi-storey car park.

Dimensions

The approximate internal areas are as follows:

  • Ground Floor - 800sq.ft.
  • First Floor - 700sq.ft.
  • Total: 1,500 sq.ft.

In addition to the above, there is a reasonably spacious two bedroomed apartment situated at second floor level, which is in good condition throughout.

Amenities

The property is a purpose built three storey structure, providing retail accommodation at ground floor level, office/medical accommodation at first floor level, with residential accommodation on the second floor.

The first and second floors benefit from separate access at ground floor level, off Rue du Funchal.

Tenure

The premises are currently leased on the following terms:-

Ground Floor

Let to SMP Beauty Limited with two personal guarantees on an internal repairing style lease from October 2017 and to expire on 30 September 2026, at an annual rental of £16,000 per annum. The rent shall be increased on 1 October 2020 to £18,000 per annum and again on 1 October 2023 to £20,000 per annum.

The lessee reimburses to the lessor a fair proportion of the building insurance and Foncier Rates and is responsible to keep the ground floor shop front in good repair and decoration.

First Floor

Let to smiles Limited on an internal repairing and insuring style lease from 25 March 2015 to expire on 24 March 2024, at an annual rental of £13,518.75 per annum, which is subject to 3 yearly Jersey Cost of Living rent reviews. The lessee reimburses to the lessor a fair proportion of the Foncier rates and building insurance.

Second Floor

The second floor apartment is let out on an internal repairing monthly licence at a rental of £900 per month.

The gross annual rent therefore equates to £40,318.75 per annum.

Asking Price

Asking £555,000 for the freehold interest in the property.

Downloads

Key Contacts

If you wish to get in touch with us about this property you can contact our helpful team using the details found below.

Alistair Sarre
Director
Telephone: 01534888848
Email: alistair@sarreandcompany.co.uk

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Location

Quality Niche Investment
1 Burrard Street
St Helier