Search Properties
we found 0 results
Your search results

Sir Walter Raleigh House, 48 – 50 Esplanade, St. Helier, Jersey

Prime Multi-Let Office Investment

£ 8,300,000

Offices
Total Area: 21,013 ft2

About this property

  • Jersey is the largest of the Channel Islands and one of the worlds leading offshore banking and finance centres.
  • Prominent office located in a 100% prime pitch on the Esplanade.
  • Grade A office totalling approximately 21,013 sq ft (1,952.1 m2 ) NIA over basement, ground and 4 upper floors.
  • Low rent ranging from £27 psf to £29 psf, compared to levels of £40 psf achieved in nearby buildings.
  • Multi-let to tenants including; Aberdeen Private Wealth Management Limited, CVC Capital Partners, Jersey Finance Limited, Capco Trust Jersey Limited and Touchstone (CI) Ltd.
  • WAULT to lease expiries of c.5 years and c.4 years to breaks.
  • Total income of £630,732.50 per annum reflecting £27 – £29 psf on the office space.
  • Significant asset management opportunities including; regearing leases, agreeing outstanding rent reviews and capitalising on the excellent rental growth prospects at future reviews.
  • Freehold.

We are instructed to seek offers in the region of £8,300,000 (Eight Million Three Hundred Thousand Pounds).

A purchase at this level reflects an attractive Net Initial Yield of 7.5% and a low capital value of £395 per sq ft after the deduction of purchaser’s costs of 1.50% on the basis of an SPV sale.

Documents

Amenities and Features

Property Location

Related Listings

Contact Me

Compare Listings