Block of flats for sale in Gib:33630, Main Street, Gibraltar

Bfa are pleased to present a freehold investment property located at 177, Main Street.

The property consists of an income generating freehold building comprising retail premises on the ground floor and office units on the upper floors. The net internal area is approximately 767sqm (8,255 sq ft) and 87sqm (936 sq ft) external. Broken down as follows:

Ground Floor (177-179 Main Street) - Shop. “Boss”. Comprising of retail space, changing rooms and storage area. This level is fitted out to a high specification of high-end retail for the franchise “Boss”. This commercial space has been recently renovated by the tenant in occupation and boasts tall ceilings, integrated sound system, reversible air conditioning and spot lighting throughout. This level has a floor area of approximately 184sqm (1,981 sq ft) and currently yielding a rent equivalent of £45.50 per sq ft Per Annum. Rates payable are £3290.00 per quarter before discount.

First Floor (9/1 Cornwall's Lane) - Office. This first floor office suite extends the entire 1st floor spanning from its Main Street elevation to its rear facade situated at Cornwall's Lane. The commercial space is divided into modular offices at the center to include server room, with board room and executive offices facing Main Street, with the toilet areas and kitchenette on the Eastern elevation overlooking Cornwall's Lane. The office space has perimeter trunking throughout, office halogen fluorescent lighting, reversible air conditioning and smoke detection system throughout. The office suite has a period wrought iron balcony overlooking Main Street, and the main entrance is off the lift and main entrance staircase from Cornwall Lane. Currently vacant, this office unit offers a total floor space of approximately 165sqm (1,776 sq ft) The office boasts glass partitioned boardrooms to include modern fixtures and fittings throughout and enjoys tall ceilings and wooden floors throughout. Rates are £ 3,244.14 Per Quarter before discount.

Second Floor (9/2 Cornwall's Lane) - Office. This second-floor office suite extends the entire 2nd floor spanning from the Main Street elevation to the entrance area at Cornwall's Lane. The commercial space is also divided into modular rooms at the center to include server room, with the main executive offices facing Main Street, with the rear dedicated to toilet areas and kitchenette with an Eastern orientation overlooking Cornwall's Lane. The office space has perimeter trucking throughout, office halogen fluorescent lighting, reversible air conditioning and smoke detection system throughout. The office suite has a period wrought iron balcony overlooking Main Street, and the main entrance is off the lift and main entrance staircase from Cornwall Lane. Currently vacant, this office unit offers a total floor space of approximately 165sqm (1,776 sq ft). Rates payable are £ 2,919.76 Per Quarter before discount.
Third Floor (9/3 Cornwall's Lane) - Office. This third-floor office suite extends the entire 3rd floor spanning from the Main Street elevation to the entrance area at Cornwall's Lane. This level is occupied with a commercial tenant and follows the same layout and distribution as that seen on the first and second floor. The office space has perimeter trucking throughout, office halogen fluorescent lighting, reversible air conditioning and smoke detection system throughout. The office suite has a period wrought iron balcony overlooking Main Street, and the main entrance is off the lift and main entrance staircase from Cornwall Lane. Currently vacant, this office unit offers a total floor space of approximately 172.60sqm (1,858 sq ft). This floor is occupied by a company (The Resort Group plc) under a commercial sub underlease yielding a contracted rent at approximately £28.36 per sq ft Per Annum. Rates payable are £ 3,255.53 Per Quarter before discount.

Fourth Floor (9/4 Cornwall's Lane) - Office. This office suite located on the fourth floor is set back from the Main Street facade to provide a spacious open terrace with views extending over Gibraltar's Parliament Building and John Mackintosh Square known locally as the Piazza. The office takes up approximately half of the entire floor plate with the remaining dedicated areas dedicated to a large open terrace. Currently vacant, this office unit offers a total floor space of approximately 85sqm (915 sq ft) and has an open terrace area of 87sqm (936.46 sq ft). To note this office suite and terrace was originally a large 258sqm Penthouse apartment together with the 3rd floor, therefore these 2 floors could again revert back to its original use as residential apartment space or as various smaller apartments. This office also boasts toilet and kitchenette facilities, and fitted out to a good standard with reversible air conditioning and wooden floors throughout except wet areas which are tiled in ceramic. Rates payable are £ 1,579.19 Per Quarter before discount.

A great opportunity not to be missed.

Viewings recommended.