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Phillips St - Sommerville House 1,689 SF Office Condo Unit Offered at $917,783 in Jersey JE2 4SW
Investment Highlights
- Prominent Business Location
- High Ceilings
- Solid Transport Links
Executive Summary
This property comprises office accommodation of masonry construction.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Sale Conditions | Sale Leaseback |
| Tenure | Freehold |
| Sale Type | Investment |
| Tenure | Freehold |
| Sale Conditions | Sale Leaseback |
Description
The opportunity exists to acquire the flying-freehold interest in the 2nd floor offices, Sommerville House, subject to the above noted lease, for a consideration of £750,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield of 6.00%.
Sale Notes
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).
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).
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 2nd & 3rd | 1,689 SF | Office | $917,783 ($543.39/SF) | - |
Unit 2nd & 3rd
| Unit Size |
| 1,689 SF |
| Condo Use |
| Office |
| Price |
| $917,783 ($543.39/SF) |
| NOI |
| - |
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Unit 2nd & 3rd
| Unit Size | 1,689 SF |
| Condo Use | Office |
| Price | $917,783 ($543.39/SF) |
| NOI | - |
| Sale Type | Investment |
| Tenure | Freehold |
| Sale Conditions | Sale Leaseback |
| Description | |
| The opportunity exists to acquire the flying-freehold interest in the 2nd floor offices, Sommerville House, subject to the above noted lease, for a consideration of £750,000 exclusive of GST as applicable. A sale at this level would reflect a Gross Yield of 6.00%.</li></ul> | |
| Sale Notes | |
| The 2nd & 3rd floor offices, Sommerville House will be subject to a new, Full<br> 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).</li></ul> |
Property Facts
The following property facts apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 3,689 SF | Typical Floor Size | 922 SF |
| Property Type | Office (Condo) | Year Built | 1970 |
| Building Class | B | Lot Size | 0.03 AC |
| Floors | 4 |
| Total Building Size | 3,689 SF |
| Property Type | Office (Condo) |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 922 SF |
| Year Built | 1970 |
| Lot Size | 0.03 AC |
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1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Phillips St - Sommerville House
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