For Sale – Office Investment, St Helier

Description

LOCATION Sommerville House is located within St Helier town centre, opposite the head-office of RBSI and The Arts Centre. The location has recently undergone a significant period of regeneration with the commercial and residential redevelopment of Ann Court and development of a significant part of Bath Street by Le Masurier providing a 122-bed Premier Inn, circa 3,000 Sq.Ft. of retail premises and 124 residential units. DESCRIPTION The 2nd & 3rd floor offices of Sommerville House comprise open-plan office space over both floors, complimented by an attractive boardroom on the 2nd floor. Both floors benefit from W.C. facilities with the 3rd floor further benefitting from a shower. Both floors are accessible via lift from the ground floor. All internal areas have been recently comprehensively refurbished to a high standard, providing quality modern office and staff amenity space. ACCOMODATION The Net Internal Areas of the core 2nd floor & 3rd floor space is approximately as follows (measured to IPMS): 2nd Floor: Main Office – 990 Sq.Ft / 92.00 Sqm Boardroom – 222 Sq.Ft. / 20.60 Sqm Stores – 85 Sq.Ft / 7.90 Sqm 3rd Floor: Main Office – 301 Sq.Ft / 28.00 Sqm Server Room – 91 Sq.Ft. / 8.50 Sqm TENURE/LEASE TERMS The 2nd & 3rd floor offices, Sommerville House will be subject to a new, Full Repairing & Insuring lease to “T&G Limited”, for a term of 9-years, commencing from completion of sale. Commencing rental will be £45,000 p/a with rent reviews 3-yearly in line with the JRPI (subject to a “collar” and “cap” on any increase of 3% and 9% respectively). OPPORTUNITY The opportunity exists to acquire the flying-freehold interest in the 2 nd floor and 3 rd floor offices, Sommerville House, subject to the above noted lease, for a consideration of £695,000 exclusive of GST as applic…