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1 Newtown Buildings

£275,000
R600
St Helier
KEY FEATURES
  • Niche property investment in an upcoming neighbourhood alongside the Northern quarter
  • UNDER OFFER

Location
1 Newtown buildings is located north of St Helier town centre, close to the Millennium Town Park and a moment’s walk away from the new Merchant’s Square residential development including a Premier Inn Hotel with al fresco dining area and with 149 one and two bedroom apartments.

Minden Place Car Park is a short walk to the south.

Description
The Hair Design salon provides an attractive addition to the David Place streetscape, benefitting from a decorative shop frontage within a Grade 4 listed building.

Internally, the salon has been re-fitted by the current tenant, operating as a hairdressers and beauty salon, to a high standard incorporating the usual shop fittings together with a variety of basins and customer points to service the business. The unit has an integral kitchen / staff area and w.c. located to the rear of the unit.
•Prominent location
•Bright retailing space
•Attractively fitted out.

Accommodation
The Net Internal Area of the ground floor area is as follows:

Retail – 374 sq.ft / 34.75 sq.m
Kitchen/Store – 60 sq.ft / 5.54 sq.m.

Lease Terms
Ground Floor, 1 New Town buildings, David Place is held under an IRI lease which commenced on 25th March 2019 and expiries 24th March 2028 subject to 6 monthly tenant only rolling break options. The current rent passing is £16,704 pa (as of March 2022) with upward rent reviews every 3 years in line with JRPI.

Asking Price
The opportunity exists to acquire the flying-freehold of Ground Floor, 1 New Town buildings, David Place, subject to the above noted lease, for a consideration of £275,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield on the Gross Income of 6%.

Legal Costs
Each party to bear their own legal costs and any other costs incurred in the sale of this property.

KEY FEATURES
  • Niche property investment in an upcoming neighbourhood alongside the Northern quarter
  • UNDER OFFER
Documents Floorplan Brochure
Viewing
Please contact us on 01534 880 770 if you wish to arrange a viewing appointment for this property, or require further information.
Disclaimer
Broadlands endeavour to maintain accurate depictions of properties in Virtual Tours, Floor Plans and descriptions, however, these are intended only as a guide and purchasers must satisfy themselves by personal inspection.
41471 Newtown Buildings
Interested? Let’s talk

Nick Trower

Director

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Buying a house can be difficult, but that’s where Broadlands come in. With over 50 years of experience, our friendly and knowledgable team are more than ready to help you find the right home for you and sell your house.

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Reg no: 22366 Company address: Broadlands, 1 Library Place, St Helier, JE2 3NL

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