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Prime multi-let office investment

Saint Helier, JerseyUnlock address

87%

£23.100.000

Office

#14127

Core+

2 Feb 2024

Property Details

Broker

Sold

59,709 sq.ft.

5,547 m²

Leasable area

386 £/sq.ft.

4,164 £/m²

7.25 %

5

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

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.