A prime retail unit in the heart of Casemates Square with retail window facing directly out onto the piazza. This 40sqm unit, formerly a jewellery and souvinir shop, is situated at the from of Casemates Arcade, right in the middle of the many bars and restaurants lining the square.
This is an excellent opportunity to acquire a strategically located unit in possibly Gibraltar's highest foot-fall area.
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Key Highlights
Strategic Location: Casemates Square is Gibraltar's civic and tourist centre. Tourist traffic from the frontier tends to enter via Landport straight into Casemates Square offering a valuable chance to grab attention as one of the first retailers. The restaurants surrounding the edges of the square ensure visitors remain in this high foot-fall location.
Unit Features
Size: 425sqft (39.5sqm)
Lease: Fully renewable commercial lease direct from LPS (Government) with 5-year renewals and rent reviews
Sold as: Full vacant position upon completion
Financials
Key Money: £100,000 for full 39.5sqm for the leasehold interest
Passing Rent: £9,530 pa
Rates: £1,596 pa
Division possibility
This unit could assigned whole, two thirds (approx 26sqm) or one third (approx 13sqm), each with front door and retails windows. A premium of £45,000 would be sought for each separate third assigned with Passing Rents and Rates divinded respectively