Attractive Open Market residential property
Sale and leaseback for Barclays Bank Plc
Price: £675,000

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The Property
Beaumont is an Open Market residential property (inscribed on Part D of the register) currently owned and occupied by Barclays Bank Plc.

The property comprises a substantial late nineteenth century detached, double-fronted, two-storey period building that provides living accommodation for Barclays staff by way of four double bedrooms and four single bedrooms along with a shared kitchen and ample bathroom/WC facilities.

Externally, the property benefits from a good-sized garden to the rear, which is well planted and part laid to lawn.

There is a tarmac area to the front of the property which provides parking for approximately five cars.

Location
The property is situated just to the north of central St Peter Port in a residential area that comprises similar properties. It is located on the eastern side of Guelles Road only a few minutes walk from Guernsey’s leisure centre, Beau Sejour, and only a ten minute walk from the town.

The Opportunity
The property will be offered by way of sale and leaseback for Barclays Bank Plc. As tenant, Barclays require a number of physical changes (both structural and non-structural) to the property prior to the commencement of the lease which the prospective purchaser will be required to carry out and complete. From its existing layout, the property will need to be altered to provide the following accommodation:-

The creation of four flats (one Open Market flat and three Local Market flats)

First Floor

Open Market flat Two bedrooms

Lounge

Kitchen

Study

Family bathroom

Entrance hall

The flat is located on the western side of the building.

Local Market flat One bedroom

Lounge

Kitchen

Family bathroom

Entrance hall

The flat is located on the eastern side of the building.

Ground Floor

Local Market flat Two bedrooms

Lounge

Kitchen

Family bathroom

Entrance hall

The flat is located on the western side of the building.

Local Market flat One bedroom

Lounge

Kitchen

Family bathroom

Entrance hall

The flat is located on the eastern side of the building overlooking the gardens.

Full planning consent has been granted for the creation of the four flats described above and proposed floor plans are overleaf. Please note that the form of lease, a draft works contract with a detailed scope of works, and plans and a copy of the planning permission are available upon request.

Price
The freehold of the property is available for the sum of £675,000 (six hundred and seventy five thousand pounds).

Terms and Conditions of Purchase
Subject to agreeing to and the completion of the schedule of works, a new 18 year lease will be offered on Full Repairing and Insuring terms.

It should be noted there will be an option for the tenant to determine the lease at the expiry of the 5^th, 10^th and 15^th anniversaries of the commencement date.

At the end of the lease the tenant will have the option to extend the lease for a further period of 15 years.

Rent
The commencing rent is £60,000.00 per annum paid monthly in advance and will be subject to three yearly rent reviews to Market Value.

Legal Costs
Each party to bear their own legal costs.

Viewing
Strictly by appointment with the vendor's Sole Agent:

Swoffers Commercial
Estate House
Ann's Place
St Peter Port
Guernsey
GY1 2NU

Contact: Jonathan Harris
Telephone: 01481 722151
Email: jharris@swofferscommercial.co.uk

SUBJECT TO CONTRACT
Swoffers Commercial for themselves and for the vendor(s) or lessor(s) of this property whose agent they are give notice that:

1. These particulars do not constitute, nor constitute any part of, an offer or contract.
2. None of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact.
3. Any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
4. The vendor(s) or lessor(s) do not make or give and neither Swoffers Commercial nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property
5. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment