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St Helier, Jersey – Prime Freehold Bank Investment

1&3 Broad Street & 11-13 Library Place, St Helier, Jersey

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold

Description

  • Freehold.
  • New lease for a term of 15 years at a rent of £300,000 per annum.
  • Barclays have been in occupation for over a 100 years.
  • Annually compounded three yearly uncapped Jersey RPI rent reviews.
  • Ground and basement only, measuring 12,851 sq ft.
  • Services retail, business and ‘Premier’ Banking customers.
  • Barclays’ only retail branch on the Island; benefiting from a recent comprehensive refurbishment.
  • Offers are sought in excess of £5,140,000 subject to contract and exclusive of GST (5%).  This equates to an attractive net initial yield of 5.5%, after allowing for purchasers’ costs of 6.2%.