Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Mixed use investment property
- Freehold sale
- Fully let – gross income £60,400 PA
- Top floor apartment with balcony
- Total commercial area of 2,334 sq.ft
The mixed use investment property comprises a four-storey town house with a retail unit on the ground floor, office accommodation on the first and second floors and a spacious apartment on the third floor with a roof terrace. The property is fully let with a total gross income £60,400 pa, with JRPI linked rent reviews in January 2024 (upward only).
Rooms
LOCATION
The property lies in a prominent position on Don Street, within a popular area for office, retail and residential uses. It is within close proximity to all town centre amenities including the primary retail pitches of King Street and Queen Street, the central market, as well as Minden Place multi storey car park.
ACCOMMODATION
The retail unit has direct access from the street, whilst the office accommodation and the apartment enjoy separate access via an internal staircase, also accessed via Don Street. There is an internal staircase to the rear providing access between ground and first floor.
The building provides a good level of specification throughout, and a new electric heating system has been installed through throughout the building.
The Net Internal Area of the floor areas are as follows:
Ground floor (retail) 763 sqft (70.94 m2)
First floor (office) 778 sqft (72.29 m2)
2nd floor (office) 792 sqft (73.62 m2)
Third (apartment) Living/dining room, kitchen, bathroom, one double bedroom, connecting bedroom/study and balcony.
Total 2,333 sqft (216.74m2)
TENURE
The Gross current rent income for the whole building is therefore £60,400 per annum.
ASKING PRICE
The opportunity exists to acquire the freehold of 50, Don Street, subject to the above noted leases, for a consideration of £895,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield on the Gross Income of 6.748%.
LEGAL COSTS
Each party to bear their own legal costs and any other cost incurred in the sale of this property.
DISCLAIMER
Broadlands Estates Limited for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained in these contained in these particulars as to the property are to be relied on as statements or representations of fact. 3. Any intending purchaser or lessee must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make or give and neither Broadlands Estates Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property. Unless otherwise stated all prices and rents are quoted exclusive of GST. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment.
Property information from this agent
Places of interest
*DISCLAIMER
Property reference d9536569-5856-4dfd-afea-d623dfa56d19. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Broadlands Jersey - St Helier.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.