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.
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.
•Bright retailing space
•Attractively fitted out.
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.
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.
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 £300,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield on the Gross Income of 5.55%.
Each party to bear their own legal costs and any other costs incurred in the sale of this property.
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