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Vaux Vert Charing Cross 2,611 sq ft 100% Let Retail Property Jersey JE3 8AA £835,000 (£319.80/sq ft) 9.11% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Located within the heart of St Aubin
- Landmark property
- Ten minute drive to Jersey Airport
EXECUTIVE SUMMARY
The freehold of Vaux Vert sits within Vaux Vert Holdings Ltd which itself benefits from the various requisite licenses facilitating the operation of the Property as a restaurant and residential accommodation. It is therefore suggested that potential purchasers will be most interested in acquiring Vaux Vert Holdings Ltd although if so desired, the freehold of the company may be offered for sale in isolation. Subject to the lease and license agreements detailed herein, Vaux Vert Holdings Ltd / the freehold of Vaux Vert is offered for sale at £835,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Initial Yield on the Gross Income of 9.11%. Yield increases are anticipated on 01/04/24, 01/04/25 & 01/04/26 on application of JRPI based rent reviews to the ground floor restaurant lease and further yield increases may be achievable subject to increasing rents on the residential units.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Property Size
2,611 sq ft
Costar Property Class
B
Year Built
1983
Price
£835,000
Price per sq ft
£319.80
Yield
9.11%
NOI
£76,104
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Frontage
18 ft on Rue du Crocquet
AMENITIES
- Signage
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Vaux Vert | Charing Cross
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