Casemates Square

Gibraltar

Ref: GC51408

£250,000 | £2,300 pcm

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Property Description

Situated at the most popular point in Casemates Square and formerly home to the iconic Salsafuego nightclub, this unit presents an excellent opportunity to secure a versatile, well-equipped, and strategically located space in a soon-to-be revitalised area. Don’t miss the chance to position your business at a prime location poised for increased foot traffic and visibility. Strategic Location: Casemates Square is set to undergo significant renovations in the coming months, alongside the Landport project. Additionally, a major tourist attraction will soon open at the North Defences, directly connecting to Casemates, just outside the unit.

Unit Features:

  • Size: 173 m²
  • Lease: 21-year lease agreement with the government
  • Licenses: Leisure license included
  • Fully Equipped: The unit is fully fitted with toilets, air conditioning, fire safety systems, an alarm system, and all necessary licenses. It is currently set up as a hair salon, and its open-plan layout allows for adaptation to other uses. A kitchen extractor duct is also installed.
  • Additional Spaces: The unit includes 2 stores in Casemates Square, with all fixtures and fittings included.

Financials:

  • Key Money for Full 173 m²: £250,000 ONO, covering the lease and all fixtures and fittings.
  • New LPS Rent: £2,300 per month
  • New Rates: £1,040 per month (negotiable)
  • Multi-Business Operations (Flexible Options)
    • For 50% of the unit—converted into Unit A or Unit B (approx. 80 m² each): £125,000 premium.
    • Rent for 80 m² Unit: £1,150 per month
    • Rates for 80 m² Unit: £520 per month 

Flexible Options:

  • Division Possibility: The unit can be divided into two approximately 80 m² units, each with entry points and windows on both sides. These spaces can be easily converted into office spaces, commercial areas, storage facilities, etc.
  • Discounted Rent for Flexible Hours: A rent review with an approximate 25% discount is available if your business operates during off-peak hours, such as specific time frames or late-night shifts.

For more information contact Property Zone on 200 64040 or email info@propertyzonegibraltar.com

Property Details

  • Internal Size: 173m2
  • Rates: 1150/pcm
  • Store Room
  • Close to amenities
  • Ownership: Leasehold
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Location Info

The Town area includes the lively streets of the city, namely Main Street. Offering a large variety of multinational brands, local specialist stores, and coffee shops, Gibraltar’s main squares are The John Macintosh Square and Casemates Square. This area is a hive of activity, not just for the locals but also for our tourism, with the bus terminus and public market minutes away. Street performers entertain passers-by and military parades and concerts attract large crowds several times a year. The Governor’s Residence and the seat of H M Government of Gibraltar, No. 6 Convent Place, are at the south end of Main Street.

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