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Retail Investment – St Saviour
£315,000 Flying Freehold | 904.00 ft2 sq. ft. | Investment | St Saviour
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LOCATION
The property is located in the Parish of St Saviour, on the south side of Princes Tower Road, close to the Five-Oaks roundabout and directly opposite Morrisons supermarket / petrol station. We attach a location plan for identification purposes.
DESCRIPTION
The property, which forms the ground floor only, benefits from a prominent, glazed-frontage onto Princes Tower Road incorporating a ramped pedestrian access which provides access for disabled persons. Internally, the property provides mainly open-plan retail space – currently adopted by William Hill Bookmakers as a betting office – with customer counter to the rear and ancillary space providing staff office, staff W.C., kitchenette and disabled customer W.C. The space is fitted out to a good standard providing suspended ceiling, fluorescent lighting and comfort cooling / heating.
ACCOMODATION
The Net Internal Area of the property is as follows:
- Retail Sales – 781 Sq.Ft / 72.56 Sqm
- Ancillary – 123 Sq.Ft / 6.10 Sqm
TENURE/LEASE TERMS
The Property is subject to a 20-year Full Repairing & Insuring lease commencing 22/03/24, terminating 21/03/44 (subject to tenant break options at the expiry of years 10 & 15) to “B J O’Connor Ltd”; guaranteed by “William Hill Organization Ltd”. The passing rent is £23,000 P/A; subject to upward-only rent reviews 3-yearly, in line with the JRPI (subject to a cap on any increase of 10.00%).
OPPORTUNITY
The opportunity exists to acquire the Property by way of flying-freehold, subject to the above noted lease, for a consideration of £315,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield of 7.30%.
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
Strictly by appointment with the vendor’s sole agent, Quérée Property Consultants Ltd by contacting Jonathan Quérée MRICS or Lucy Schooling MRICS:
Documents
Address: William Hill, Princes Tower Road, St Saviour
City: Jersey
Area: St Saviour
State/County: Channel Islands
Country: United Kingdom
Property Id: 22116
Price: £315,000 Flying Freehold
Property Size: 904.00 ft2