office
Ref 12845

IFC1

The Esplanade
JE1 4BP St Helier

To buy£43,300,000
Size70,382 ft² / 6,538 m² (approx. 650 desks)
Initial yield6%

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%.

Energy rating

Energy rating 0

Location and Transport