Quality Niche Investment
1 Burrard StreetSt Helier Property Breakdown
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.
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.
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.
The premises are currently leased on the following terms:-
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.
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.
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 £555,000 for the freehold interest in the property.
- 1 Burrard Street - Download
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Quality Niche Investment
1 Burrard Street