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Situated on Halkett Place and extending back to Waterloo Lane (which is the entrance for the apartments), the property comprises a new four storey building (built in 2020/2021) with a ground floor restaurant and 7 apartments (3 no. studio and 4 no. 1 bed). The eastern elevation was constructed behind the original façade.
The entrance to all the apartments is through a passageway located off Waterloo Lane. The Property has no onsite car parking provision, delivery to the restaurant is provided via Waterloo Lane , which is the communal ownership of the property located on the lane. The Property was built using steel frame construction, supplemented by reinforced concrete. Fenestration comprises uPVC double glazed units.
The lease for the restaurant will be on a standard Internal Insuring & Repairing basis at a commencing rent of £40,000 per annum. The rent will be subject to triennial open market upwards only reviews.
The restaurant will be let to a single tenant, Hayste Limited, a family run business set up in 2020 (the current operator of the restaurant), for a minimum 9 year lease simultaneous with the sale of the Property.
Bringing the atmosphere of Asia’s late night drinking dens to Jersey, Awabi serves modern pan-Asian food within the context of a European wine bar. Awabi creates Asian-fusion dishes made using local ingredients and brings favourite dishes from Asia’s finest restaurants and most humble street markets together under one roof. The restaurant has 48 covers, spectacular bi-fold doors offering outside-in dining experience, bar with seating, 3 WCs, air conditioning system, purpose-built modern kitchen facilities.
Freehold purchase and leaseback of restaurant and seven purpose-built apartments in St Helier.
Net Initial Yield 7.7%
