Lodging House Investment – SOLD
£ 1,550,000 | 3025 sq. ft. | Investment | St John
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LOCATION
Cheval Roc Apartments is located within Les Nouvelles Charrieres, above Bonne Nuit Bay, in the Parish of St John. Bonne Nuit Bay itself is a short walk away and St John’s Village, a 2-minute drive away. We attach a location plan for reference purposes.
Cheval Roc Apartments is a purpose-built, registered lodging house providing five 2-bedroom apartments (all occupiable by “Registered” / “Non-Qualified” persons); two on the ground floor and three on the 1st floor; all with uninterrupted sea-views. All apartments are well appointed to modern standards and have a 4-star “Rent Safe” accreditation. The ground floor apartments benefit from a very large communal terrace while the first floor apartments enjoy private balconies. All apartments have the use of a private store shed, communal clothes washing facilities, extensive terraced gardens extending to circa 1.50 acres and parking for circa 12 cars.
➢ Apartment 1 – 2-bed, ground floor, communal terrace – (710 sq.ft. NIA)
➢ Apartment 2 – 2-bed, ground floor, communal terrace – (710 sq.ft. NIA)
➢ Apartment 3 – 2-bed, 1st floor, private balcony – (474 sq.ft. NIA)
➢ Apartment 4 – 2-bed, 1st floor, private balcony – (657 sq.ft. NIA)
➢ Apartment 5 – 2-bed, 1st floor, private balcony – (474 sq.ft. NIA)
LETTING/INCOME SCHEDULE
In the expectation of imminent onward sale, the Property is only partially let on short-term residential licenses (which may be immediately terminated). Current Gross Rental Income is £68,400 p/a. We anticipate that if the Property were fully let at market level, Gross Rental Income could increase to £103,200 p/a.
➢ Apartment 1 – Currently let at £1,450 p/m inclusive of utilities. Anticipated rental achievable £1,800 p/m.
➢Apartment 2 – Currently let to caretaker at £1,200 p/m inclusive of utilities. Anticipated rental achievable £1,800 p/m.
➢ Apartment 3 – Currently let at £1,350 p/m inclusive of utilities. Anticipated rental achievable £1,600 p/m.
➢ Apartment 4 – Recently let at £1,700 p/m.
➢ Apartment 5 – Currently vacant. Anticipated rental achievable £1,600 p/m.
OPPORTUNITY
The opportunity exists to acquire “Robil Limited” which holds the freehold of Cheval Roc Apartments and benefits from the requisite license facilitating operation of the Property as a registered lodging house. It is therefore suggested that potential purchasers will be most interested in acquiring Robil Limited although if preferred, the freehold may be offered for sale in isolation.
Subject to the lease agreements detailed herein, Robil Limited / the freehold of Cheval Roc Apartments is offered for sale at £1,550,000 exclusive of GST as applicable.
LEGAL COSTS
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.
VIEWING
For further details and viewing, please contact the vendor’s sole agent, Jonathan C Quérée MRICS at Quérée Property Consultants Ltd on 630660 (T) or 077978 40008 (M).
