Purchased in December 2019, this mixed-use scheme comprises office, leisure and warehousing accommodation, situated on the outskirts of St Helier, benefiting from ample parking and a predominantly residential surrounding.
Since acquisition, a proactive asset management strategy has been implemented, including the refurbishment, regearing and reletting of a number of units. As a result, rental tone has strengthened, the weighted average unexpired lease term has been extended and the overall quality of the buildings has improved.
The asset now delivers a strong and resilient income return, while also retaining an underlying longer-term redevelopment opportunity, providing further potential for value creation.