St Peters Agricultural Yard, Rue Du Vidcocq, St Peters, Guernsey, GY7 9AP

Property Details

  • SOLD
  • Sale and leaseback opportunity
  • New lease based on FRI terms for 12 years
  • Commencing Rental: £55,000 per annum
  • Rent Reviews every three years based on GRPI
agricultural-featured
agricultural-featured
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LOCATION

The Property is located in St Peters and is approximately one mile south west of Guernsey’s Airport and approximately 4 miles south west of St Peter Port’s harbour.

More specifically the Property is located on the northern side of Rue du Vidcocq, which is between the main Route de Plaisance to the north and Route de la Palloterie to the south.

Vehicular access is from country lanes surrounding the Property with the main entrance adjacent to a bungalow to the south side of the site. There is further access from Rue Carey to the north west of the site.

DESCRIPTION

The Property comprises former agricultural buildings constructed from a mixture of concrete block and steel frame. Facilities provided include wcs and 3 phase electric. The drainage is to a cesspit whilst water is supplied by a well on site.

To the exterior of the main buildings there is a yard area which is utilised for the storage of heavy machinery, vehicles and steel storage containers.

ABOUT THE TENANT – FINANCIAL STATEMENTS

The proposed Lessee’s Financial Statements can be provided once a Confidentiality Agreement has been signed. Please contact our office for further details.

TENURE AND PRICE

The Property can be purchased for £850,000 with the benefit of the new lease.
The Property is to be offered by way of a new Sale and leaseback arrangement and based on the terms and conditions detailed below:

  • There will be a new lease granted to St Peters Agricultural Services Limited (The Lessee) from a date to be agreed
  • The lease term will be 12 years from the commencement date
  • The commencing rent will be £55,000 per annum
  • The lease is based on Full Repairing and Insuring terms
  • The rent is to be reviewed 3 yearly to the rent immediately prior to the review date multiplied by the Guernsey RPI for the preceding period
  • The Lease will allow for sub-letting and assignment, subject to Landlord’s consent, not to be unreasonably withheld

AVAILABILITY

The Property is immediately available for purchase

LEGAL COSTS

Each party to bear their own legal costs.