£23.100.000
Confirmation
Prime multi-let office investment
Property Details
Broker
Sold
59,709 sq.ft.
5,547 m²Leasable area
386 £/sq.ft.
4,164 £/m²7.25 %
5
Freehold
Fees
Investment Overview
The building occupies a prime position in St Helier’s primary office location and adjacent to the International Finance Centre. The self-contained and highly specified building provides 59,709 sq ft of Grade A office accommodation arranged over ground and four upper floors. 36 secure basement parking spaces. Fully let to five tenants providing a strong and diverse income profile. Attractive WAULT of 5.4 years to expiry with genuine potential to enhance the WAULT through asset management initiatives. The average office rent at £28.00 per sq ft is at a 30% discount to the levels being achieved at the adjacent International Finance Centre providing a platform for future rental growth.
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