Coco Rico

Retail, St Helier

Location
The property is located on Broad Street just off King Street, St Helier’s prime retail thoroughfare. The immediate area is prime retail and leisure with significant offices adjacency in Broad Street and the nearby Esplanade.

Description
The premises comprise a restaurant / dining area incorporating a servery and kitchen. The property is laid out primarily in open front and rear plan format with the kitchen conveniently positioned to the rear. There is also a low height storage space at the side of the restaurant. This popular and well established licensed premise offers 40 covers inside.

Existing Leasehold Interest
The property is held by way of an existing IRI style lease agreement, which commenced on the 22nd December 2014 for a term of 3 years expiring on the 21st December 2017. The lessee then extended the lease for a further two years to expire on 30th November 2019, with a willing landlord prepared to consider a longer term to 2022.
Rent passing for the unit is currently £17,500 per annum which represents a very fair and reasonable rate per annum when compared with the surrounding area.

Terms
Subject to contract we are instructed to seek £90,000 (net of GST as appropriate) for the leasehold interest of the property, fixtures / fittings and goodwill. Any existing stock will be sold at valuation.

1036 Sq Ft
£17,500
Rent

Location

33 New Street
St Helier