No longer on the market
This property is no longer on the market
MapRetail property (high street)
Letting details
- Unfurnished
- Long term let
Features and description
- Assignment of the lease for the whole building
- Sub-letting of parts will be considered, subject to separate negotiation
- Large prominent site in a busy location
- Parking for approx. 17 cars plus 2 garages
The property is used as a Class A – Retail and alternative uses will be considered (subject to the usual Planning and Landlord consents).
The whole property is immediately available either by way of an assignment, or sub-letting under the existing head lease.
Sub-lettings of the individual parts will also be considered, subject to separate negotiation.
Rooms
Location
The property occupies a large site on the north side of Bagatelle Road, one of Jersey’s busiest roads out of St Helier, the island’s capital.
In close proximity is a variety of commercial businesses, shops and supermarkets including The Co-op, HSBC, Morrisons and Normans.
The surrounding area contains a high density of housing and the property is within close proximity of most of the island’s main schools including Victoria College, Girls College, Hautlieu, Beaulieu, De La Salle and Grainville, as well as Highlands College.
Description
The ground floor contains a traditional banking hall, ancillary offices and staff facilities, whilst on the first floor, there are three flats. We understand that the residential units can be occupied by certain Entitled persons.
The property is a detached 1970’s building laid out in an L-shape, with ample parking to the rear and we understand that the tenant, Lloyds Bank has occupied the property since it was built. It appears to be of cavity construction, finished in smooth render with blockwork gables, is emulsion painted and sits under a pitched pan tiled roof, with uPVC double glazed windows throughout.
Description continued
Internally the property is fitted out for a banking operation and includes entrance/reception area, cashier desks, 2 partitioned offices, kitchen, back office, staff room and male and female WC’s, but could be reconfigured to suit, subject to Landlord’s approval.
To the rear is a car park for approximately 17 cars, plus two single garages, garden & landscaped areas.
The residential units can be let along with the retail unit or separately if not required.
Accommodation
The Property has been measured in accordance with the RICS Code of Measuring Practice and provides the following approximate net internal floor areas:
Ground floor Retail banking hall and ancillary
1,465 sq ft 136 sqm
First floor 2 x 1 bed flats and 1 x 2 bed flat
All flats have a separate lounge, kitchen and house bathroom
Rear car parking Approx. 17 cars and 2 lock up garages
Availability
The whole property is immediately available either by way of an assignment, or sub-letting under the existing head lease.
Sub-lettings of the individual parts will also be considered, subject to separate negotiation.
Tenure
The whole property is let on a single full repairing and insuring 9 year lease from 18 March 2020, which terminates on 18 March 2029 with no tenant breaks. The current head rent of £133,123 per annum (wef March 2023) is subject to 3 yearly upwards only increases in line with the Jersey Retail Price Index, the next review being on 18 March 2026.
Rental
Head Rental £133,123 per annum.
Sub-Rental By separate negotiation.
Use
The property is used as a Class A – retail and alternative uses will be considered (subject to the usual Planning and Landlord consents).
There is permitted change of use under the Planning and Building (General Development) (Jersey) Order 2011 from Class A – retail to Class K – Medical.
Legal costs
Each party to bear their own legal costs and any other cost incurred in a sub letting or an assignment of this property.
Parking - Off street
Parking - Garage
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