Retail Investment
£ 350,000 | 584 sq. ft. | Retail, Investment | St Helier
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LOCATION
14 La Colomberie is located at the lower end of La Colomberie, at the junction with La Chasse. Snow Hill, Queen Street and Bath Street are nearby.
DESCRIPTION
The Property comprises the ground floor, (front) retail unit which enjoys excellent prominence onto La Colomberie via a large and attractive, glazed return-frontage. The interior, which comprises approximately 584 sq.ft. / 54.24 sqm has been recently refurbished to a high-standard and operates as a hairdressing salon incorporating customer / staff areas and disabled W.C. facilities. The fitout provides a mix of quality floor and wall coverings, LED-lighting and air- conditioning.
- Self-contained.
- Prominent frontage.
- Recently refurbished.
- Attractively fitted out
- Readily re-lettable.
TENURE / LEASE TERMS
The Property, is subject to an IRI lease to a private party for a term of 9-years from 11/11/19 (no break options). The lease is subject to both a personal guarantee and rent deposit of £10,000 (£5,000 being returnable in 6-monthly instalments over the next 2.5-years). Annual rental is currently £22,840 p/a, payable quarterly in advance. A rent review in line with the JRPI falls due on 11/11/25.
OPPORTUNITY
The opportunity exists to acquire the flying-freehold of the Property, subject to the above noted lease, for a consideration of £350,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield of 6.53%.
LEGAL COSTS
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.
VIEWING
Strictly by appointment with the vendor’s sole agent, Quérée Property Consultants Ltd by contacting Jonathan C Quérée MRICS:
