Bath Street, St. Helier

LOCATION
8 & 8A, Bath Street, is located fronting the pedestrianised bustling Bath Street and a moment’s walk away from the main prime pitch Queen Street in the heart of St Helier town centre. Neighbouring occupiers include Boots, Waterstones, Jersey Telecom, Hotel Chocolat, Flannels, Sports Direct and Mappin & Webb.

DESCRIPTION
The ground floor Tib Street shop provides a fantastic selection of men’s clothing and accessories which are an attractive addition to the Bath Street streetscape, bene-fitting from a decorative shop frontage within a Grade 4 listed building.

The premises also provides a superb 2 bedroom apartment at first and second floor levels which has been completely refurbished to a high standard throughout, within the last year.

ACCOMMODATION
The net internal area of the ground floor area is as follows:

Ground floor retail unit 270 sq.ft.

First & second floors 2 bedroom residential apartment

LEASE TERMS
Ground Floor

Let to PSD Fashions Limited t/a Tib Street on an internal repairing style lease, at a passing rental of £15,000 per annum. It is agreed that either party can give 3 months’ notice to terminate the tenancy agreement.

First Floor

The first floor is let on a standard Government of Jersey Residential Tenancy Agreement, which commenced on 10th August 2022 for a period of 1 year. The passing rental is £21,000 per annum.

ASKING PRICE
The opportunity exists to acquire the freehold of 8 & 8A, Bath Street, St Helier, subject to the above noted leases, for a consideration of £625,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield on the Gross income of 5.76%.

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

VIEWING
Strictly by appointment with the Lessor’s sole agent.
Erica Zonta A.N.A.E.A
Director
T. +44 (0)1534 880770
M. +44 (0)7797 712094
erica@broadlandsjersey.com
www.broadlandsjersey.com