8 West’s Centre is located in the heart of St Helier town centre, a moment’s walk from the Central Market and the Fish Market, Beresford Street, Bath Street, Halkett Place, Queen Street and King Street. We attach a location plan for reference purposes.
Forming part of a landmark property overlooking the whole of West’s Centre, 8 West’s Centre provides to the ground floor, a large, extensively fitted commercial unit currently operating as the long-established and popular “SOY” restaurant. Immediately in-front of the restaurant there is a large, west-facing al-fresco dining area which is subject to a Choses Publiques licence from the Parish of St Helier. The 1st, 2nd and 3rd floors provide very large 1-bedroom apartments; all provided in excellent order with the benefit of long-standing / well-referenced tenants.
Modern building presented in excellent order throughout.
Long-standing commercial and residential tenants.
Fully let and income producing.
The Property provides the following accommodation, measured on a Gross Internal Area basis:
The ground floor commercial unit is subject to a commercial lease to a Jersey registered company, backed by a personal guarantee. The lease is drawn on a FRI basis and has recently been extended to expire 21st December 2032. Rent passing is £24,396 p/a (and is considered to be somewhat reversionary). Future JRPI based rent reviews are due on 25/09/26 and 25/09/29. The apartments on the 1st, 2nd &, 3rd floors are occupied by “Entitled” persons on annual rental agreements. Each agreement is subject to an annual rent of £13,200 p/a. It is suggested that, given the size and quality of the apartments, these rentals are somewhat reversionary.
The total current passing rent is therefore £63,996 p/a.
The freehold of 8 West’s Centre is offered for sale subject to the commercial and residential lease agreements detailed herein at an asking price of £995,000 exclusive of GST as applicable. A sale at this level would reflect a Net Initial Yield of 6.23% and Equivalent Yield of 6.54% after allowing for stamp duty and purchaser’s costs of £10,000. Yield increases are anticipated in 2026 & 2029 on application of JRPI based rent reviews to the ground floor restaurant lease and further yield increases may be achievable subject to increasing rents on the residential units. Were a purchaser minded to do so, it would be possible to split out and re-sell the individual residential units and / or the commercial unit and in this scenario, it is envisaged significant additional “break-up” value could be achieved.
Each party to bear their own legal costs and any other cost incurred in the letting of this property, whether or not a transaction completes.
Strictly by appointment with the vendor’s sole agent, Quérée Property Consultants Ltd by contacting Lucy Schooling MRICS or Jonathan Quérée MRICS: