propertygibraltar.com

Residential   Ref: GIB33668

Main Street

Gibraltar

£2,700,000

£4,809 per sqm


  • Bed Icon 7 bedrooms
  • Bath Icon 5 bathrooms
  • House Icon 535 m2
  • Fence Icon 53 m2

New to the market!

BFA Estate Agents, are pleased to offer an exceptional Freehold property for sale on the open market with prime retail outlet with full vacant possession on Main Street.

Located in the centre of Gibraltar's main thoroughfare, this colonial style building reminiscent of early 20th century construction, is being sold with vacant possession. It offers generous communal areas central to internal light-wells, a large commercial unit on Main Street, complete with offices and WC, a large storage area on the first floor which can be independently accessed via Turnbull’s Lane, and which can be converted into other use such as apartments, and over the second and third floor, there are 4 residential apartments and communal roof terrace.

The properties internal distribution is as follows:

Ground Floor - Main Street Retail & Offices                                                   157 m2  i.e. 1,669.9 ft2

First Floor - Stores / Commercial – Ground Level Turnbull’s Lane              155 m2  i.e.  1,668.4 ft2

Second Floor - Apartments.  (First Floor from Turnbull’s Lane)

One Bedroom Apartment facing Main Street                                                40 m2   i.e.     430.6 ft2

2/3 Bedroom Split Level Apartment facing Turnbull's Lane                         80 m2   i.e.     861.1 ft2

Lightwell                                                                                                              18m2   i.e.    193.7 ft2

Circulation Areas                                                                                             14.5m2   i.e.    156.0 ft2                                                             

Third Floor - Apartments.  (First Floor from Turnbull’s Lane)

One Bedroom Apartment facing Main Street                                               37 m2   i.e.     398.2 ft2

One Bedroom Apartment facing Inner Light-well                                        31 m2   i.e.     333.7 ft2

Circulation Areas                                                                                            14.5 m2   i.e.    156.0 ft2

Roof Terrace including Circulation Areas                                                                                                             

Roof Terrace                                                                                                      41.5 m2   i.e.     376.7 ft2                                                                                                          

Total Area                                                                                                         588.5 m2  i.e.   6,716.7 ft2

 

The ideal purchase for a developer looking to regenerate a colonial property in the heart of town, with potential to include 1 to 2 further storeys whilst seeking planning permission.

Reserved Price £ 2.7 Million. Offers invited in excess of reserve price.

Rates Payable:

Shop on 29 Main Street & First Floor Stores with access via 27/29 Turnbulls Lane:

                                                    Shop 29 - £2,841.62 per quarter before discount

                                                    1st floor Stores 1&2  -  £587.85 per quarter before discount

31 Turnbull’s Lane –  Second & Third Floor Apartments:

                                                Flat 3 - £34.05 per quarter before discount (10% discount eligible on early payment)

                                                Flat 4 - £67.20 per quarter before discount (10% discount eligible on early payment)

                                                Flat 5 - £54.90 per quarter before discount (10% discount eligible on early payment)

                                                Flat 6 - £27.00 per quarter before discount (10% discount eligible on early payment)

Viewing is highly recommended.

 


£2,700,000

£4,809 per sqm

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About Main Street

Main Street is the pulsating artery of Gibraltar. Stretching from Casemates Square to Southport Gate, With internationally known stores, local specialist shops and bars and restaurants, Main Street is unique and constantly changing.



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Stats Icon Market Stats

Average price for sale in Main Street of properties currently on the market:

Studio: £1,670,500 £5,419 per sqm

1 bed: £437,500 £6,758 per sqm

2 beds: £337,367 £5,803 per sqm

3 beds: £807,900 £5,671 per sqm

4 beds: £1,200,000 £7,011 per sqm

7 beds: £2,700,000 £4,809 per sqm

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