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IFC1

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Esplanade JE1 4BP Jersey
Ref: 12845

  • 70,382.00 ft² (6,538.70 m²)
  • 43,300,000
  • 6.00 Initial Yield

Description

Description

• IFC 1 is newly built, multi-let office building with an enviable tenant line up and a WAULT of 17.2 years to expiry.

Investment Summary

• IFC 1 is Jersey’s premier multi-let office building

• IFC 1 forms part of the prestigious IFC Jersey development which will provide 470,000 sq ft of Grade A office accommodation in the heart of Jersey’s central business district and Waterfront area

• IFC 1 completed in March 2017 and provides a super prime, highly specified Grade A office building arranged over basement, ground and five upper floors totalling 70,382 sq ft

• Column-free floorplates with a central core provide complete flexibility on fit outs • Standalone building with highly glazed façade offering excellent levels of natural light

• BREEAM ‘Excellent’ rating

• 33 basement car parking spaces • Multi-let to six blue-chip tenants providing a strong and diverse income profile

• Combined total income of £2,636,156 per annum

• WAULT of 17.2 years to expiry and 12.6 years to break

• Long leasehold

• Jersey is regarded as one of the world’s leading offshore financial centres with a Standard & Poor’s credit rating of AA-/A-1+ and a GDP of £4.1 billion (2016)

• Jersey has excellent communications with the UK mainland and Europe

• A loan to value ratio of 60% provides attractive cash on cash returns in excess of 10.00%

We are instructed to seek offers in excess of £43,300,000 (Forty Three Million, Three Hundred Thousand Pounds), subject to contract and exclusive of GST (VAT).

A purchase at this level reflects an attractive net initial yield of 6.00% assuming purchaser’s costs of 1.50%.

Amenities

Amenities

  • Air-Conditioning
  • Building Reception
  • Floor to ceiling glazing
  • High Quality fit out
  • Suspended Ceiling
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Contact

Contact
Neville Pritchard
Sarah Martin
Neil Houghton
  Details

JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:

  1. The particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
  2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
  3. No person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
  4. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.

For properties in Scotland:

  1. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law.

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