Sole Agent
Wine bar/restaurant, with a managers flat and lodging units
1st class taverner’s licence
Asking price £575,000
Niche property investment in an upcoming neighbourhood
A further opportunity to acquire an adjoining property which is overlooking The Town Park
Location
The Property is situated directly opposite the Merchant’s Square development which includes both the Premier Inn Hotel and the Randall’s new Nomu restaurant and with 149 new residential apartments above.
It is also located near to the new public realms around the Cyril Le Marquand Court (175 apartments) and Andium’s new major regeneration of the Northern Quarter (195 new homes) along with the Millennium Town Park.
There are public car parking facilities within a short walking distance in Minden Place and Charles Street car parks.
Description
The Property is mid-terraced and fronts onto Bath Street.
A well-known landmark wine bar/restaurant operating under a 1st class, taverner’s licence and providing a mix of both commercial and residential accommodation. Arranged over ground and two upper floors, the property provides commercial accommodation to the ground floor. The bar/restaurant comprises circa 50 covers in a split bar which totals approx. 1,097 sqft, including a rear commercial kitchen totalling approx. 118 sqft, male and female toilets, cellar approx 258 sqft and with various stores. The rear of the building connects with the Robin Place warehouse building and there is also a fire escape route to the rear.
Accommodation
The upper floors provide residential accommodation and it has a separate entrance directly off Bath Street.
First floor
Lodging unit 1 – used currently as an office.
Lodging unit 2 – used currently as an office.
Managers rear separate flat – lounge, kitchen, bathroom.
Second floor:
Bedroom, bathroom, roof terrace.
Tenure
The Property has the benefit of a 9-year lease with T & T Restaurants Limited, at rental of circa £50k pa, until March 2029 with a landlord/tenant break option in March 2026. The landlord is responsible to keep the premises the wind and watertight. The lease is also subject to annual JPRI rent reviews.
Asking price
The opportunity exists to acquire the freehold interest of the property, subject to the above noted lease, for a consideration of over £575,000 exclusive of GST as applicable.
A further opportunity to acquire an interlinked rear property, on Robin Place, which overlooks the Town Park at an asking price of £300,000. We attach a site plan only for reference purposes.
Legal costs
Each party to bear their own legal costs and any other cost incurred in the purchase of this property.
Viewing
Strictly by appointment with the Vendor’s sole agent.
Nick Trower MRICS
Director – Commercial
T. +44 (0)1534 874141
M. +44 (0)7797751558
nick@broadlandsjersey.com
www.broadlandscommercial.com
Guy Gothard FRICS
Director – Commercial
T. +44 (0)1534 874141
M. +44 (0)7797737127
guy@broadlandsjersey.com
www.broadlandscommercial.com
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