Shops 1 & 2, 19 & 21 David Place – Retail Investment – SOLD
LOCATION
19 & 21 David Place is located north of St Helier town centre, close to the Millennium Town Park and a moments walk away from the Bath Street, Premier Inn Hotel and Merchant’s Square residential development.
➢ 9-Year Lease – 30/11/25
➢ Rental – £26,400 p/a
➢ JRPI Based Rent-Reviews
➢ Rent Deposit & Personal Guarantee
➢ 5.87% Gross Yield
Shops 1 & 2, form the ground floor of 19 & 21 David Place; the upper floors have recently been the subject of a comprehensive programme of renovation works and have either been sold or are currently offered for sale to the market.
Shops 1 & 2 provide an attractive addition to the David Place streetscape, benefitting from Victorian shop frontages – recently redecorated together with the remainder of the buildings façade – incorporating large, glazed timber displays and attractive pedestrian entrances. Directly in-front of the shops are 2 x car parking spaces.
Internally, both shops have been re-fitted by the current tenant – operating as a hairdressers and beauty-salon – to a high standard incorporating the usual shop fittings together with a variety of basins and customer points to service the business. The shops share an integral kitchen / staff area and W.C. located to the rear of the units.
- Prominent and bright retailing space
- Attractively fitted out
- 2 x parking spaces
- Readily re-lettable either jointly or separately
ACCOMODATION
The Net Internal Area of the ground floor area is as follows:
Shop 1:
Retail – 705 sq.ft / 65.50 sqm
Store – 31 sq.ft / 2.90 sqm
Shop 2:
Retail – 355 sq.ft / 32.98 sqm
Kitchen – 57 sq.ft / 5.26 sqm
TENURE/LEASE TERMS
Shops 1 & 2, 19 & 21 David Place are held flying-freehold. Both shops are held under a single, IRI lease to “Private Party-A” expiring 30/11/25 (no break-option). The lease is subject to a rent deposit of £4,000. Rent passing is £26,400 p/a and rent reviews are 3-yearly in line with the JRPI.
OPPORTUNITY
The opportunity exists to acquire the flying-freehold of Shops 1 & 2, 19 & 21 David Place, subject to the above noted lease, for a consideration of £450,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield on the Gross Income of 5.87%.
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
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).
