Casemates Square
Description
An opportunity to acquire a 40sqm retail operation in the heart of Gibraltar's tourism centre A prime retail unit in the heart of Casemates Square with retail window facing directly out onto the piazza. This 40sqm unit, formerly a jewelry and souvenir shop, is situated at the front of Casemates Arcade, right in the middle of the many bars and restaurants lining the square. This is an excellent opportunity to acquire a strategically located unit in possibly Gibraltar's highest foot-fall area. Key Highlights Strategic Location: Casemates Square is Gibraltar's civic and tourist centre. Tourist traffic from the frontier tends to enter via Landport straight into Casemates Square offering a valuable chance to grab attention as one of the first visible retailers. The restaurants surrounding the edges of the square ensure visitors remain in this high foot-fall location. Unit Features Size: 425sqft (39.5sqm) Lease: Fully renewable commercial lease direct from LPS (Government) with 5-year renewals and rent reviews Sold as: Full vacant position upon completion Financials Key Money: £100,000 for full 39.5sqm leasehold interest Passing Rent: £9,530 pa Rates: £1,596 pa Division Possibility This unit could assigned whole, two thirds (approx. 26sqm) or one third (approx. 13sqm), each with front door and retails windows. A premium of £45,000 would be sought for each separate third assigned with Passing Rents and Rates divided respectively Investment Potential Purchased as an investment opportunity, we expect the unit to achieve £16,000 - £18,000 per annum dependent upon fittings, offering an annual return in the region of 18%.PROPERTY FEATURES-425sqft (39.5sqm)-Prominent Retails Location-Heart of Gibraltar's Tourism-Retail Window Facing Piazza-High Foot-Fall Location-Building of Histori
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How this one compares
6 similar properties on the island advertised at within 25% of this price. Their median asking price is £95,000 — this one is asking 5% more. Asking prices only; nobody has paid these.
| Property | Where | Beds | Asking | vs this one |
|---|---|---|---|---|
| in Town Centre | Town Centre | — | £95,000 | -5% |
| 0 bed property in Studio Apartment, Town Area Studio Apartment, Castle Street, Town Area | Town Area | 1 | £110,000 | +10% |
| South District | — | — | £90,000 | -10% |
| Town Area | — | — | £85,000 | -15% |
| in Ocean Village - Imperial Ocean Plaza | Ocean Village | — | £85,000 | -15% |
| Ocean Heights | — | — | £120,000 | +20% |
