Other properties - Buy - St. Helier
- Prominent Building at the northern end of Clarence Terrace
- Estimated Annual rental of £63,360 per annum (as a Lodging House with 2 car parking spaces)
- Potential opportunity to purchase the Property or take a Full Repairing and Insuring Lease on the property
- Offers in the region of £950,000 are being sought for the freehold interest which equates to an attractive net initial yield of 7.00% after the deduction of purchaser¿s acquisition costs of 5%;
The Property comprises an end-terraced property constructed over basement, ground and 3 upper floors. An extension has been constructed to the west of the main building and has been integrated within the property.
The Property is of traditional block work construction with cement rendered and painted external elevations built under a pitched, slate covered roof. There is an extension to the rear which is also of traditional block work construction also with cement rendered and painted elevations under a flat roof with felt covering. There is a patio garden to the rear. Flats 1, 2 and 3 are accessed from the front door of the property and the Basement flat is accessed from the alleyway to the side.
Internally there is gas fired central heating within the flats and all are separately metered. A new fire alarm system has been installed at the Property. The fenestration is a mix of double glazed timber framed sliding sash and uPVC casement units. The rainwater furniture is uPVC.
There are 2 car parking spaces to the east and north east of the property.
The property will also be offered on a 9 year Full Repairing and Insuring lease with 3 yearly rent reviews at an asking rental of £63,360 per annum (inclusive of car parking).