Henley has purchased Charter Place in St. Helier, Jersey for €12.7m (£11.5m). The transaction marks its the company’s first Channel Island purchase.
The modern, 35,000ft² Grade A office building is located in the Island’s prime office location and is fully let with high-quality tenants. Unlike the rest of the UK, The Channel Islands is not part of the EU, which was a factor behind Henley’s decision to enter the market with the acquisition of Charter Place.
Ian Rickwood, CEO of Henley, explains:
“Whatever happens with Brexit, the Channel Islands should keep its existing relationship as part of the Customs Union. That fact, coupled with Jersey’s steadily increasing rent levels over the past decade, growing population and rising GDP, makes it an attractive market for us and our investors.”
Charter Place features large 8,000ft² floor plates that surround an internal atrium offering significant natural lighting. It is set just metres from St Helier’s main street. The existing tenant mix includes Crestbridge Limited, Triton Administration, MRI Services and Dominion Fiduciary’s head office.
Justin Meissel, CIO and Managing Director Europe, continued:
“In addition to the unique political and economic position of Jersey, there are strong real estate fundamentals supporting the need for high-quality office accommodation. Our attractive acquisition basis and a planned programme of asset management, in line with tenants’ growth objectives, will allow us to maximise the potential of the property.”
11th January 2019 | Article by Europe Real Estate