ST-HELIER-Jersey-Barclays-Bank.Pdf
BARCLAYS BANK ST HELIER, JERSEY NEW 15 YEAR LEASE WITHOUT BREAKS PRIME FREEHOLD BANK INVESTMENT NEW 15 YEAR LEASE WITHOUT BREAKS 3 YEARLY UNCAPPED RPI RENT REVIEWS GROUND & BASEMENT 1 & 3 BROAD STREET & 11-13 LIBRARY PLACE, JE4 8NE INVESTMENT CONSIDERATIONS PROPOSAL Offers are sought in excess of £5,140,000 (Five million, One Hundred and Annually compounded Ground and basement only, Forty Thousand Pounds) subject to contract and exclusive of GST (5%). This equates Freehold three yearly uncapped measuring 12,851 sq ft to an attractive net initial yield of 5.50%, after allowing for purchasers’ costs of 6.20%. Jersey RPI rent reviews Assuming an increase based on Jersey’s March 2019 – March 2020 RPI of 2.7%, New lease for a term of a purchase at this level gives a reversionary yield of: Undoubted covenant Services retail, business and 15 years at a rent of of Barclays Bank Plc ‘Premier’ Banking customers Year Rent NIY £300,000 per annum 2023 £323,067 5.95% Barclays have been Heart of St Helier Town Barclays’ only retail branch 2026 £ 347,9 0 8 6.45% in occupation for over Centre, Jersey, Britain’s largest on the Island; benefiting 2029 £374,658 6.99% 100 years ‘offshore’ financial centre from a recent comprehensive 2032 £403,466 7. 57 % refurbishment Jersey RPI for the last 3 years has averaged an annual increase of 3.3%, which is higher than the UK. PRIME FREEHOLD BANK INVESTMENT NEW BARCLAYS BANK 15 YEAR LEASE WITHOUT BREAKS Ground & Basement, 1 & 3 Broad Street & 11-13 Library Place, St Helier, Jersey JE4 8NE 3 YEARLY UNCAPPED RPI RENT REVIEWS GURNSEY FRANCE PORTSMOUTH ENGLAND BOURNEMOUTH LOCATION ISLE OF WIGHT ST HELIER Jersey is a British Crown dependency and an archipelago located in the English St Helier is the capital of Jersey, home to WEYMOUTH Channel approximately 14 miles off the north west coast of France and 85 miles from approximately 31% of the Island’s entire population the south coast of England.
[Show full text]