Units 3 & 4 Castle Quay

Office, St Helier

Description

The property is located within Millais House at Castle Quay. The immediate area accommodates a high volume of high quality residential apartment units and a number of commercial units at ground floor level including the Sandpiper Food Hall, Coopers Coffee, OK Kids, The Wellness Centre and Sunseeker yacht agency.

The commercial elements of the scheme were originally envisaged as pure retail / food retail offerings; however, consents were subsequently received/passed for change of use for many units to quasi “office” style space and class K Medical use.

The premises, which are currently designated as Class B (restaurants and cafés), represent an opportunity to acquire prime waterfront space which would be suitable for many uses, subject to the necessary planning permission.

Existing Leasehold Interest

The property is held by way of an existing EFRI style lease agreement, which commenced on the 4th January 2013 for a term of 25 years expiring on the 3rd January 2038 with lessee provision to break on the 3rd January 2028 and 2033.

Rent passing for the unit is currently £111,486 per annum, reversionary to £119,276 on the 3rd January 2019 with provision for three yearly open market linked rent reviews thereafter.

The demise includes two basement car parking spaces namely spaces 17 and 18.

The Gross Internal Area of the unit as recorded under lease is 3,541 sq. ft. net of the internal and external terraces, which extend to 597 sq. ft. and 523 sq. ft. respectively.

Terms

Subject to contract, the space is being offered subject to contract by way of the assignment of the existing 25 year lease expiring on the 3rd January 2038, with lessee provision to break on the 3rd January 2028 and 2033.

 

3541 Sq Ft
£119,276
Rent

Location

St Helier