Office Investment – Portman House
Portman House is located within St Helier town centre, close to The Parade Gardens and a moments walk away from King Street, Broad Street and Charring Cross.
The Net Internal Area of the Office Suite is as follows:
Office – 591 sq.ft / 54.87 sqm
Kitchen – 66 sq.ft / 6.10 sqm
The Office Suite, Portman House is subject to an Internal Repairing lease to “Royal Road Minerals Ltd” for a term of 5-years from 01/01/21 expiring 31/12/25. The lease is subject to a rent deposit of £2,167. Annual rental income is currently £23,833 p/a, payable monthly. A rent review in line with the JRPI falls due on 01/01/24 and it is anticipated rental will increase to circa £28,600 p/a.
The opportunity exists to acquire the flying-freehold of The Office Suite, Portman House, subject to the above noted lease, for a consideration of £375,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield on the Gross Income of 6.36% and an increased Gross Yield of 7.63% subject to rent review assumptions detailed above.
Each party will bear their own legal costs and any other costs incurred in the acquisition of this property, whether or not a transaction completes.
Strictly by appointment with the vendor’s sole agent, Quérée Property Consultants Ltd by contacting Jonathan C Quérée MRICS or Lucy Schooling MRICS: