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Phillips St - Sommerville House 1,689 sq ft Office Unit Offered at £695,000 in Jersey JE2 4SW
Investment Highlights
- Prominent Business Location
- High Ceilings
- Solid Transport Links
Executive Summary
This property comprises office accommodation of masonry construction.
1 Unit Available
Unit 2nd & 3rd
| Unit Size | 1,689 sq ft | Sale Type | Investment |
| Price | £695,000 | Tenure | Freehold |
| Price Per sq ft | £411.49 | Sale Conditions | Sale Leaseback |
| Unit Use | Office |
| Unit Size | 1,689 sq ft |
| Price | £695,000 |
| Price Per sq ft | £411.49 |
| Unit Use | Office |
| Sale Type | Investment |
| Tenure | Freehold |
| Sale Conditions | Sale Leaseback |
Description
The opportunity exists to acquire the flying-freehold interest in the 2nd floor offices, Sommerville House, subject to the above noted lease, for a consideration of £750,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield of 6.00%.
Sale Notes
The 2nd & 3rd floor offices, Sommerville House will be subject to a new, Full
Repairing & Insuring lease to “T&G Limited”, for a term of 9-years, commencing from completion of sale. Commencing rental will be £45,000 p/a with rent reviews 3-yearly in line with the JRPI (subject to a “collar” and “cap” on any increase of 3% and 9% respectively).
Interior Photo
Interior Photo
Property Facts
| Total Property Size | 3,689 sq ft | Typical Floor Size | 922 sq ft |
| Property Type | Office (Unit) | Year Built | 1970 |
| Costar Property Class | B | Total Plot Size | 0.03 ac |
| Floors | 4 |
| Total Property Size | 3,689 sq ft |
| Property Type | Office (Unit) |
| Costar Property Class | B |
| Floors | 4 |
| Typical Floor Size | 922 sq ft |
| Year Built | 1970 |
| Total Plot Size | 0.03 ac |
Presented by
Phillips St - Sommerville House
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