51 – 53 King Street, St Helier, Jersey

LOCATION

This property is centrally located in a prominent position within the traditional heart of St Helier. The property is prominently located to the centre of King Street with a return frontage to Broad Street. The position of the shop is 100% prime being directly opposite the new Next and De Gruchy’s department store and a short distance from Marks & Spencer.

Nearby occupiers include De Gurchy, Marks and Spencer, Next, Voisins, Mountain Warehouse, Boots, Body Shop, JD Sports, WH Smith, Jo Jo Maman Bebe and Top Shop.

Sand Street car park is located within a 3-minute walk of the property.

DESCRIPTION

The Property would appear to be of traditional masonry construction with cement rendered and painted external elevations built under a mix of pitched slate and felt-type flat roofs.

The ground floor of the Property provides a large open plan retail area with a return frontage to the Broad Street elevation. The basement is used for storage and is accessed via a set of stairs down from the ground floor. The upper floors (1st to 3rd) comprise stores and ancillary areas.

There is also a 4 bedroom flat located over part of the 1st to 3rd floors which benefits from its own private entrance from Broad Street. The Flat is classified for occupation by local persons or alternatively, unqualified staff employed within the retail business occupying the Property.

The Property is in the process of being refurbished to provide a “white box” ready for a tenant to occupy and operate.

ACCOMMODATION

The Property is available to let as a whole and provides the following net internal areas:

Basement:                          803 sq.ft (74.60 sq.m)

Ground Floor:                   2,287 sq.ft (212.47 sq.m)

Ground Floor AITZA:      1,580 sq.ft (146.79 sq.m)

First Floor:                         1,583 sq.ft (147.06 sq.m)

Second Floor:                    834 sq.ft (77.48 sq.m)

Third Floor:                       523 sq.ft( 48.59 sq.m)

4 Bedroom flat over 1st to 3rd floors.

King Street Frontage – 10.7m.

Broad Street Frontage – 10.1m.

AVAILABILITY

The premises are available to let as a whole upon completion of the landlord’s refurbishment works which are expected to be completed in Q1 2020.

LEASE TERMS

The property is available to let on a 9-year full repairing and insuring lease.

RENTAL

The premises are available at a total rent of £268,000 per annum with the following breakdown per floor:

Basement: £8 psf

Ground Floor: £135 psf (ITZA)

First Floor: £8 psf

Second Floor: £6 psf

Third Floor: £4 psf4

Bedroom Flat: £18,000 per annum.

All rentals quoted are exclusive of all other outgoings and exclusive of GST if applicable.

LEGAL COSTS

Each party to bear their own legal costs and any other cost incurred in the letting of this property.