Dandara sells £45m St Helier block

By James Buckley - Wednesday, February 07, 2018 10:26

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Dandara, represented by Savills, has sold 37 Esplanade a multi-let office building in St Helier, Jersey to overseas clients of Cyril Leonard for £45m.

The 88,353 sq ft prime office building was constructed in 2013 and provides Grade A office space over a basement, ground and six upper floors. Multi-let to tenants including KPMG, PwC, First Names Group and VG Group with average unexpired lease terms of 10 years.

37 Esplanade is located in St Helier’s financial district and is close to the Jersey International Finance Centre which is currently under construction. Nearby occupiers include HSBC, Citibank and Royal Bank of Canada.

Andrew Hogge of Cyril Leonard who advised the purchasers, said: “Taking into account the prime location, the grade A specification and the well secured income, our clients are very pleased with this purchase.”

Tony Rowbotham, head of Savills Channel Islands office, said: “We are delighted to have worked with our investment colleagues in London to advise Dandara on the disposal of 37 Esplanade. Jersey is an exceptionally strong occupational market and it was good to bring this international capital through our global network to the island.”

Jbuckley@costar.co.uk

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