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Fernlea Parade La Grande Route Des Sablons 1,309 sq ft 100% Let Retail Property Jersey JE3 9FR £999,950 (£763.90/sq ft)
INVESTMENT HIGHLIGHTS
- Prominent position on a busy road
- Parking bay to the exterior front
- Large glass frontage
EXECUTIVE SUMMARY
The property comprises a purpose built mixed use building of rendered blockwork construction with a duo pitched roof. The ground floor includes two self-contained retail units.
Access to the first floor is via a communal staircase. The first floor comprises 2 x one-bedroom flats.
Also included within the demise is a parking bay directly in front of the retail units with space for 5 vehicles, a pair of garages to the side and a garden (c.119 sq.m.) which, subject to the usual consents, could be redeveloped for residential use.
£1,000,000 Freehold, subject to the existing tenancies.
The property is located in a prominent position on La Grande Route des Sablons in Grouville and is on the main thoroughfare linking Gorey with Grouville and St Clement.
Retail Unit 1 with the single garage is let to Fabienne Coudrais (Hair FX2) for a term of 9 years from 25th December 2017 to 24th December 2026 at a current passing rent of £23,000 per annum, subject to 3 yearly JRPI rent reviews.
Retail Unit 2 is let to Fernlea Dental Limited for a term of 9 years from 25th December 2023 to 24th December 2032 at a commencing rental of £23,000 per annum, subject to 3 yearly JRPI reviews.
Flat 1 is currently vacant but with an estimated rental value of £15,000 per annum.
Flat 2 is currently let at £17,250 per annum, subject to annual JRPI increases. The landlord is responsible for building insurance, Foncier Rates and keeping the premises wind and watertight and in good and substantial repair and exterior decoration.
Access to the first floor is via a communal staircase. The first floor comprises 2 x one-bedroom flats.
Also included within the demise is a parking bay directly in front of the retail units with space for 5 vehicles, a pair of garages to the side and a garden (c.119 sq.m.) which, subject to the usual consents, could be redeveloped for residential use.
£1,000,000 Freehold, subject to the existing tenancies.
The property is located in a prominent position on La Grande Route des Sablons in Grouville and is on the main thoroughfare linking Gorey with Grouville and St Clement.
Retail Unit 1 with the single garage is let to Fabienne Coudrais (Hair FX2) for a term of 9 years from 25th December 2017 to 24th December 2026 at a current passing rent of £23,000 per annum, subject to 3 yearly JRPI rent reviews.
Retail Unit 2 is let to Fernlea Dental Limited for a term of 9 years from 25th December 2023 to 24th December 2032 at a commencing rental of £23,000 per annum, subject to 3 yearly JRPI reviews.
Flat 1 is currently vacant but with an estimated rental value of £15,000 per annum.
Flat 2 is currently let at £17,250 per annum, subject to annual JRPI increases. The landlord is responsible for building insurance, Foncier Rates and keeping the premises wind and watertight and in good and substantial repair and exterior decoration.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
1,309 sq ft
Year Built
1950
Price
£999,950
Price per sq ft
£763.90
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.75
Total Plot Size
0.04 ac
Frontage
62 ft on La Cache des Sablons
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Fernlea Parade | La Grande Route Des Sablons
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