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16 Broad Street 1,085 SF Retail Building Jersey JE2 4WE $709,643 ($654.05/SF) 6.34% Cap Rate
Investment Highlights
- Fronts onto the busy Broad Street
- Consistently high footfall
- Close to King Street, Jersey's primary retail thoroughfare
- Good transport links
Executive Summary
16 Broad Street is a retail property located in the heart of St Helier’s retail core, occupying a prominent position on Broad Street. The building comprises a ground floor retail unit, with customer seating accommodation on the first floor, with ancillary storage and WC facilities on the second and third floors. The building currently benefits from al fresco seating directly in front of the property, and is due to benefit further from the ongoing refurbishment of Broad Street as part of the Parish of St Helier Public Realm improvement works.
The unit is currently let to Anjo Hotels Limited (t/a The Taste), who has been in occupation since 2011, and has recently renewed their lease for a further 9-years, which expires in March 2033. The rent is currently passing off £35,000 per annum, subject to upward only uncapped JRPI rent reviews in 2027 and 2030.
The unit is currently let to Anjo Hotels Limited (t/a The Taste), who has been in occupation since 2011, and has recently renewed their lease for a further 9-years, which expires in March 2033. The rent is currently passing off £35,000 per annum, subject to upward only uncapped JRPI rent reviews in 2027 and 2030.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
1,085 SF
Building Class
B
Year Built
2000
Price
$709,643
Price Per SF
$654.05
Cap Rate
6.34%
NOI
$44,991
Tenancy
Single
Building Height
4 Stories
Frontage
24’ on Broad Street
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Nearby Major Retailers
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16 Broad Street
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