Main Street, Town,
£6,250,000

Seekers is pleased to offer a rare opportunity to acquire a substantial freehold mixed-use investment property in the very heart of Gibraltar’s prime retail and commercial district.

Prominently positioned on Main Street, with additional access from Cornwall’s Lane, the property comprises a high-profile ground-floor retail unit together with four upper floors of commercial accommodation, served by lift and staircase access. The building provides approximately 767 sqm (8,255 sq ft) of internal accommodation, together with approximately 87 sqm (936 sq ft) of external terrace space. It combines existing rental income with significant scope to enhance returns through the letting of the currently vacant office floors and, potentially, the future reconfiguration of the upper levels, subject to the necessary permissions.

GROUND FLOOR – 177–179 MAIN STREET
Retail Unit – BOSS
Approximately 184 sqm (1,981 sq ft)
The ground-floor retail premises are occupied by BOSS and have been fitted out by the tenant to the high standard expected of a premium international retail brand.
The accommodation comprises the principal retail area, changing rooms and storage, with high ceilings, integrated sound system, reversible air conditioning and spot lighting throughout.
The unit has recently been refurbished by the tenant and currently produces rental income equivalent to approximately £45.50 per sq ft per annum.
Rates payable: £3,290.00 per quarter before discount.

FIRST FLOOR – 9/1 CORNWALL’S LANE
Office
Approximately 165 sqm (1,776 sq ft)
Occupying the entire first floor, the office suite extends from its Main Street frontage through to the rear elevation on Cornwall’s Lane.
The accommodation is arranged around a series of modular offices, including a server room, with a boardroom and executive offices overlooking Main Street. Toilet facilities and a kitchenette are positioned towards the eastern elevation overlooking Cornwall’s Lane.
The office includes perimeter trunking, commercial lighting, reversible air conditioning and a smoke detection system. A period wrought-iron balcony overlooks Main Street, while the principal entrance is via the lift and staircase from Cornwall’s Lane.
Currently vacant, the suite benefits from high ceilings, wooden flooring, glass-partitioned boardroom areas and modern fixtures and fittings throughout.
Rates payable: £3,244.14 per quarter before discount.

SECOND FLOOR – 9/2 CORNWALL’S LANE
Office
Approximately 165 sqm (1,776 sq ft)
The second-floor office suite also occupies the entire floor plate, extending from the Main Street elevation through to the entrance area on Cornwall’s Lane.
The accommodation is divided into modular rooms around the central section, including a server room, with the principal executive offices overlooking Main Street. Toilet facilities and a kitchenette are located towards the eastern Cornwall’s Lane elevation.
The specification includes perimeter trunking, commercial lighting, reversible air conditioning and a smoke detection system.
A period wrought-iron balcony overlooks Main Street, with access via the lift and principal staircase from Cornwall’s Lane.
The office is currently vacant.
Rates payable: £2,919.76 per quarter before discount.

THIRD FLOOR – 9/3 CORNWALL’S LANE
Tenanted Office
Approximately 172.60 sqm (1,858 sq ft)
The third floor occupies the full floor plate and follows a broadly similar layout to the first and second floors, extending from the Main Street elevation through to Cornwall’s Lane.
The accommodation includes modular office areas, perimeter trunking, commercial lighting, reversible air conditioning and smoke detection, together with a period wrought-iron balcony overlooking Main Street.
This floor is currently occupied by The Resort Group PLC under a commercial sub-underlease and produces contracted rental income equivalent to approximately £28.36 per sq ft per annum.
Access is via the lift and staircase from Cornwall’s Lane.
Rates payable: £3,255.53 per quarter before discount.

FOURTH FLOOR – 9/4 CORNWALL’S LANE
Office with Large Terrace
Approximately 85 sqm (915 sq ft) internal
Approximately 87 sqm (936 sq ft) terrace
The fourth-floor office is set back from the Main Street façade, creating a substantial open terrace with views across Gibraltar’s Parliament Building and John Mackintosh Square, locally known as the Piazza.
The office occupies approximately half of the available floor plate, with the remainder forming the spacious external terrace.
Currently vacant, the accommodation includes toilet and kitchenette facilities, reversible air conditioning and wooden flooring throughout the principal areas, with ceramic tiling to the wet areas.
Of particular interest is the history and potential of the upper floors. The third and fourth floors previously formed a substantial penthouse apartment of approximately 258 sqm. There may therefore be scope, subject to planning, building control and any other necessary approvals, to investigate conversion back to residential accommodation or an alternative residential configuration.
Rates payable: £1,579.19 per quarter before discount.

INVESTMENT POTENTIAL

This is a particularly interesting freehold opportunity combining:
• A prime Main Street retail location
• Existing income from established commercial tenants
• Vacant office accommodation offering scope for additional rental income
• Lift access to the upper floors
• Main Street frontage together with Cornwall’s Lane access
• Period balconies overlooking Main Street
• A substantial fourth-floor terrace overlooking the Piazza
• Potential longer-term flexibility for the upper floors, subject to the relevant consents
For investors seeking a substantial freehold asset in one of Gibraltar’s most established commercial locations, the property offers a combination of current income, future rental potential and longer-term asset management opportunities.

VIRTUAL TOURS

Explore selected floors of the building through Seekers’ immersive Matterport virtual tours:

https://my.matterport.com/show/?m=ATLG7Qrn7fB

https://my.matterport.com/show/?m=WcYESqp9LFo

https://my.matterport.com/show/?m=WrKyMU6viMY

For further information, financial details or to arrange a private viewing, please contact Maggie at Seekers Property on 200 44955 or email This email address is being protected from spambots. You need JavaScript enabled to view it..