SavillS CommerCial22 Smith Street St Peter Port Guernsey GY1 2JQ

savills.gg

FREEHOLD INVESTMENT FOR Sale

EROS HOUSE, GRANDE RUE St Martin, Guernsey

Key highlights

• Approximately 1,561 sq ft of commercialaccommodation

• Tenancies of commercial unitsapproximately 5 years in duration

• Income £63,172.32 per annum

• Parking to the rear• Asking price £895,000 .

Investment opportunities in the centre of St Martin’s village rarely come to the market and we are therefore delighted to offer the freehold of this mixed use investment for sale. The property will add a substantial income stream to any investment portfolio. With a total of six lettable units, comprising four commercial units and two residential units, the income is spread thus providing a low risk investment. All of the commercial units and flats are fully let and the building has the benefit of a car park to the rear providing at least five car parking spaces. Early viewing is recommended.

Location

Description And Accommodation

The property is located on the south west side of La Grande Rue, near the corner with Les Merriennes, in the Parish of St Martin, Guernsey. Marks and Spencer is immediately opposite the subject property and it is close to all of the shops and amenities of St Martin’s village. A location map illustrates the position at the bottom of these details.

Eros House comprises four commercial units which front Grande Rue. Each of the units have their own entrances. There are also two one-bedroom Local Market flats which are accessed from the rear of the building via their own staircase. The accommodation and approximate floor areas can be summarised as follows:

The commercial and residential units are presented in very good order throughout. They each have separate meters for electricity and water and the two flats also have a gas supply and are fitted with Vaillant gas boilers which supply heating and hot water. Heating in the commercial units is by way of electric heaters. The building is fitted with double glazing.

The fabric of the building appears to have been well maintained over recent years and it has had a new roof together with chimney stacks and lead trays. Unit 4 comprising the office is a later addition and has a fiberglass flat roof and sky lantern.

The two residential flats are fitted with a good range of wall and base cupboards in each of the kitchens. They have built in electric ovens, hobs, fridge/freezers and washer/dryers. The reception/kitchen diners are approximately 22 ft long and 11 ft wide. The double bedrooms in each flat are a good size measuring 12 ft by 17 ft.

Contactterry Gardiner+44 (0) 1481 742280Terry.Gardiner@savills.gg

legal Costs

Each party will be responsible for their own legal costs. The property is currently held in a company which may available by way of a share transfer.

AvailabilitySubject to contract, the property is available on completion of usual legal and due diligence procedures.

PriceThe asking price is £895,000.

Viewing

Strictly by appointment only with the owner’s Sole Agent Savills.

Please contact Terry Gardiner for further details or to arrange a viewing

imPortant notiCe

Maps are reproduced from the Digimap online mapping system produced by Digimap Limited and are published for the purposes of identification only and although believed to be correct, accuracy is not guaranteed.

Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by ehouse: 020 8451 8600 | February 2019

All of the units are let on internal repairing leases.

The Tenants are responsible for the interior repairs and decorations and the Freeholder is responsible for keeping the exterior and structure in tenantable repair.

The current lease terms can be summarized as follows:

The Tenants are all responsible for paying the Paraochial rates and utility bills, to include Tax on Real Property (TRP).

The Freeholder is responsible for paying the building insurance which we are informed is approximately £900 per annum.

All leases have provision within them for an annual rent review.

The total gross annual rent is currently £63,172.32 per annum.

Rent

Lease