The Waterfront, St Helier, Jersey

Investment - Sold

The Waterfront, St Helier, Jersey

Price

£15,610,000

Description

• Dominant Leisure Park in St Helier, the capital of the affluent Channel Island of Jersey.

• Anchored by the Channel Islands’ only multiplex cinema and Jersey’s only major waterpark.

• Prominently located on the A1 Esplanade for vehicular links to the rest of the island and within easy walking distance of the key office and retail hubs of St Helier.

• A long leasehold interest, at a rent of £1, with an unexpired term in excess of 133 years.

• The scheme is fully let with a total passing rent of £1,161,721 pa which represents an affordable current average rent of £12.83 per sqft.

• WAULT of 15.23 years and WAULT to tenants’ breaks of 9.36 years.

• A well let scheme with 100% of the income which is secured to UK registered tenants has a Low Risk or Very Low Risk Experian rating.

• There are opportunities to improve rental income through settlement of outstanding and impending rent reviews and to enhance the tenant mix over the short and medium term through re-letting and lease re-gears.

Net Initial Yield

7.00%