Documents
For Sale – Freehold Investment/Development Opportunity
£825,000 Freehold | 4,217.00 ft2 sq. ft. | Development | St Helier
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LOCATION
Chamber House, 25 Pier Road is found in a prominent location, minutes from the centre of St Helier. Situated within a terrace of converted town houses, the Property benefits from unparalleled views across St Helier and St Aubin’s Bay. Pier Road car park is a one-minute walk away. We attach a location plan for reference purposes.
DESCRIPTION
Chamber House is the former home of the Jersey Chamber of Commerce, a prestigious Island institution first founded in 1768 and the Island’s largest independent business membership organisation.
The property encompasses an imposing Grade 3 listed Victorian town-house which has been divided to provide functional office space over lower-ground, ground, 1st, 2nd and 3rd floors, together with a large store area accessed through the lower ground office. The property then provides a very large, double-height garage – suitable for parking 4-6 cars – accessed via an electrically operated garage-door and two further “sail-loft” store areas, accessed off The Ordinance Yard to the rear of The Weighbridge.
Floor plans are attached to these details for reference purposes.
The lower ground, ground, 1st and 2nd floors of the property are currently leased and have been fitted out to a good standard and include air-conditioning and data installation. The 3rd floor boardroom office is currently vacant. The garage is also currently leased. 3 x W.C.’s, a kitchen and shower room provide amenities to the property. The rear, west facing aspect of 25 Pier Road provides far-reaching views across town, Elizabeth Castle, St Aubin’s Bay and beyond while the primary, east facing aspect provides views across town towards Havre des Pas. The property’s dual-facing aspect provides for good levels of natural light.
- Private garage parking for 4 – 6 cars
- Good levels of natural light
- Far reaching town, sea and coastal views
- Air conditioning
- Wi-Fi and data installed
- WC / shower / kitchen facilities
- Spacious storage
ACCOMMODATION
The property has been measured in accordance with the RICS code of measuring practice (including the garage, storerooms, and all office space) and equates to circa 4,217 Sq.Ft. / 391.77 Sqm.
TENURE/LEASE TERMS
25 Pier Road is subject to four leases of varying lease length covering 1) the lower ground and 1st floors, 2) the ground floor 3) the 2nd floor and 4) the garage and sail-loft stores. Only the top floor (former board room) is vacant. The total rental income currently received equates to £55,414 per annum.
OPPORTUNITY
The opportunity exists to acquire the freehold interest in 25 Pier Road, subject to the existing leases detailed herein, for a consideration of £825,000 exclusive of GST as applicable providing a Gross Yield of 6.72%. As an alternative approach, the property may be of interest to developer’s / owner occupiers for refurbishment / alternative onward uses, subject to planning.
LEGAL COSTS
Each party to bear their own legal costs and any other costs incurred, whether or not a transaction completes. GST is applicable in Jersey at a rate of 5.00% and we recommend that potential purchasers take independent professional advice in this regard.
VIEWING
By contacting Jonathan Quérée MRICS or Lucy Schooling MRICS at Quérée at Property Consultants Ltd.
Documents
Address: Chamber House, 25 Pier Road, St Helier, Jersey
City: Jersey
Area: St Helier
State/County: Channel Islands
Country: United Kingdom
Property Id: 22495
Price: £825,000 Freehold
Property Size: 4,217.00 ft2