CHARTER PLACE SEATON PLACE, ST HELIER, JERSEY, JE2 3QL LANDMARK GRADE A OFFICE INVESTMENT

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1 CHARTER PLACE SEATON PLACE, ST HELIER, JERSEY, JE2 3QL LANDMARK GRADE A OFFICE INVESTMENT

INVESTMENT SUMMARY Well located prime office investment in the heart of St Helier Modern office accommodation totalling 35,120 sq ft (3,263 sq m) Fully let to 4 tenants WAULT of over 7.2 years (5.

2 INVESTMENT SUMMARY Well located prime office investment in the heart of St Helier Modern office accommodation totalling 35,120 sq ft (3,263 sq m) Fully let to 4 tenants WAULT of over 7.2 years (5.85 years to breaks) Freehold Total rental income of 995,460 per annum ERV of 1,021,231 per annum providing excellent scope to increase the rental total Offers sought in excess of 12,500,000 (Twelve Million Five Hundred Thousand Pounds) exclusive of GST (if applicable). A purchase at this level reflects a net initial yield of 7.85% incorporating purchaser s costs of 1.50% Low base rents of psf

3 MAIN ROUTE TO JERSEY AIRPORT CHARTER PLACE JERSEY FINANCE JERSEY FINANCIAL SERVICES COMMISSION KING STREET JERSEY INTERNATIONAL FINANCE CENTRE LIBERTY WHARF ST HELIER HARBOUR WATERFRONT CENTRE ELIZABETH MARINA ELIZABETH HARBOUR

LOCATION Jersey is the largest of the four Channel Islands, situated off the northwest coast of France, 23 km (14 miles) from Normandy and 136 km (85 miles) from the south coast of England.

Helier and provides regular services to the UK, France and Switzerland. Journey times for flights from London Gatwick and London City Airport are 1 hour and 1 hour 15 minutes respectively.

4 LOCATION Jersey is the largest of the four Channel Islands, situated off the northwest coast of France, 23 km (14 miles) from Normandy and 136 km (85 miles) from the south coast of England. The property is located on the south coast of Jersey in St. Helier. Jersey is well served by sea and air links to both the UK and Europe. Jersey airport is located 8km (5 miles) from St. Helier and provides regular services to the UK, France and Switzerland. Journey times for flights from London Gatwick and London City Airport are 1 hour and 1 hour 15 minutes respectively. Ferries from the UK to Jersey operate regularly, with the fastest journey time of 4 hours 30 minutes from Poole. Jersey is a Crown Dependency meaning while it owes its allegiance to the British Crown; it is self-governing and operates within its own tax and legal framework. Jersey s local economy revolves largely around the finance and professional advisory industries. CHARTER PLACE Devonshire Plac e e Gloucester Street The Parade Union Street New Street Esplanade Route de la Liberation abeth Seaton Place CHARTER PLACE Castle Street Liberation Station Route de la Liberation Dumaresq Street Broad Street King Street Conway Street Mulcaster Street New Street King Street Church Street Halkett Place SITUATION St Helier is the capital of Jersey and located on the south coast of the island. The town has a population of approximately 28,000 which accounts for 31% of the island s population. The property is located on Seaton Place, running parallel to the Esplanade. It is a short distance from the popular Liberty Wharf and the Waterfront area. The town s main retail areas of King Street and Queen Street are only a 5 minute walk from the property. Charter Place is situated in a prominent position within St Helier s established financial district; professional occupiers include HSBC, Jersey FSC, Citibank, BNP Paribas, Ogiers, Aberdeen Asset Management and States of Jersey.

DESCRIPTION Charter Place comprises a prominent, modern office building constructed in 2003, totalling approximately 35,120 sq ft (3,263 sq m) of accommodation.

5 DESCRIPTION Charter Place comprises a prominent, modern office building constructed in 2003, totalling approximately 35,120 sq ft (3,263 sq m) of accommodation. The building allows for flexible, open space and is arranged over basement and five upper storeys. Internally there is a large attractive atrium which provides excellent natural light throughout the building and houses two 13-person lifts. Located on the fourth floor is a roof terrace of over 1,500 sq ft that affords outstanding views over the St. Helier skyline. The specification includes: Two high speed,13-person wall climbing lifts Fully integrated VRV air-conditioning system Metal encapsulated full raised access flooring Suspended ceilings with integral low energy recessed lighting Showers and toilet facilities on each floor 22 basement car parking spaces and bike parking LOCAL ECONOMY Jersey is a thriving island and a renowned financial centre with a strong and prosperous economy. Financial services dominate the economy employing more than 28% of the population and contributing over 40% of GVA. As a result there are approximately 29 banks from the UK, Europe, North America, Switzerland, Asia and Africa based in the Island. Total bank deposits on the island are estimated at 108 billion, with the net asset value of funds totalling approximately 220 billion and the total value of funds under investment management standing at 22 billion. The Jersey Financial Services Commission is responsible for the regulation, supervision and, within its legal remit, the development of the financial services industry on the island. More information can be found at their website, Aside from financial services, the island s other main income source is tourism which accounts for around 20% of GDP. The island attracts over 700,000 visitors per annum, the vast majority coming from other parts of the UK and mainland Europe.

11 TENANCIES Charter Place is let on full repairing and insuring leases producing a total income of 995,460 per annum. CHARTER PLACE, ST HELIER, JERSEY - SCHEDULE OF TENANCIES AND ACCOMMODATION TERM RENT ERV FLOOR TENANT AREA LEASE START LEASE END RENT REVIEW PER ANNUM PER SQ FT PER ANNUM PER SQ FT COMMENTS Ground Crestbridge Limited (5,791) 2-Dec May yearly 167, , car parking spaces Service charge capped at 4.00psf 1st Triton Administration (Jersey) Limited and Triton Advisors Limited (8,203) 5-Mar Mar yearly 221, , car parking space Service charge capped at 4.66psf 2nd MRI Services Limited (8,307) 1-Sep Aug yearly 226, , Tenant break option on 01/09/ car parking spaces Service charge capped at rd & 4th Dominion Fiduciary Services Limited 1, (12,819) 4-Mar Mar yearly 380, , car parking spaces Service charge capped at 4.55psf Rent deposit of 340,475 held 3, (35,120) WAULT (Exp) ,460 1,021,231 Note: Rental devaluations have been based on an assumed car parking rate of 3,000 per space. The floor areas adopted are those stipulated in the leases. TENURE Freehold.

12 TENANTS CRESTBRIDGE LIMITED Crestbridge Limited were established in 1998 and have been branded as Crestbridge since They provide a range of real estate, fund, corporate and family office administration and accounting services to a global client base. TRITON ADMINISTRATION (JERSEY) LIMITED Triton was established in 1997 and is a private equity investment firm specialising in investing in mediumsized businesses in northern Europe, Italy and Spain. The firm has sponsored 6 funds totalling 8.2 billion, the most recent of which being the Triton IV fund established in 2013 with committed capital of 3.5 billion. MRI SERVICES LIMITED (t/a PraxisIFM) Established in 1972, PraxisIFM provide wealth management advice with offices throughout the world serving both corporate and individual clients. They currently have assets under administration exceeding $30billion. PraxisIFM has offices in Guernsey, Jersey, Switzerland, Malta, Luxembourg, South Africa, New Zealand, Mauritius and Dubai. DOMINION FIDUCIARY SERVICES LIMITED The Dominion Group was established as a specialist firm in 2001 and has expanded to become one of the largest independent trust companies to operate from both within and outside the EU. The firm have a client base throughout the UK, United States, Asia and Europe including global corporations and high net worth individuals. Dominion employs over 90 staff and has offices in Jersey, London, Malta and Geneva.

JERSEY LETTING MARKET Total office stock in Jersey is in the region of 2.8m sq ft, of which the vast majority is centred in St. Helier. The market traditionally has a low vacancy rate of below 8%.

There has been a consistent level of demand for space within the prime business district with many businesses looking to upgrade to more modern office space, with annual prime take up in the region

13 JERSEY LETTING MARKET Total office stock in Jersey is in the region of 2.8m sq ft, of which the vast majority is centred in St. Helier. The market traditionally has a low vacancy rate of below 8%. Much of this space, however, suffers from being second hand, in a secondary location or having a poor specification. There has been a consistent level of demand for space within the prime business district with many businesses looking to upgrade to more modern office space, with annual prime take up in the region of 200,000 sq. ft. Prime rental levels have seen an increase over the past few years with a number of noteworthy lettings including the pre-lettings to Royal Bank of Canada in Esplanade at per sq ft and to UBS at the Jersey International Finance Centre at a rumoured per sq ft. JERSEY INVESTMENT MARKET The office investment market in St Helier shares similar fundamentals to the more established UK prime regional markets. Investors are attracted to the jurisdiction by a number of key characteristics including good covenants, appealing long lease structures, a stable economy and solid rental growth prospects. Office investment volumes in St Helier have been strong in recent years standing at around 70m in 2015 with a similar amount transacted in DATE ADDRESS PRICE NIY PURCHASER COMMENTS Aug /39 Esplanade, St Helier 11.95m 6.6% Citibank & Aztec Group WAULT of circa 10 years. Purchased by private trust The lack of supply of Grade A space combined with anticipated demand is likely to put further pressure on headline rents suggesting these will continue to improve in the short and medium term. Sept 2016 Liberation & Windward House 34m 7.5% Multi-let including EY and CPA WAULT of circa 7 years. Purchased by Channel Island Property Fund DATE PROPERTY AREA TENANT TERM RENT (PSF) COMMENTS July 2015 Glategny Court, St Peter Port 44m 6.6% Multi-let WAULT of 15 years. Purchased by CIPF Nov 16 Gaspe House 88,000 sq.ft Royal Bank of Canada 21 Years Pre-let signed in July 2014 June 2015 Dorey & Martello Court, St Peter Port 49.5m 7% Multi-let WAULT of 10 years. Purchased by Brockton Capital Nov 16 Gaspe House 10,700 sq.ft Deloitte 9 years Pre-let signed in July 2014 July Esplanade 29,600 sq.ft JTC Group 15 years Nov Esplanade 13,247 sq.ft Aztec Group 8 years Mar 2015 Sir Walter Raleigh House, Esplanade, St Helier, Jersey 6,450, % Valad Europe (VEDF) Multi-let office with AWULT of 5.56 years. Tenants include Aberdeen Private Wealth Management, CVC Capital Partners and Jersey Finance Limited Feb 2015 Trafalgar Court, St Peter Port, Guernsey 61,380, % Strenprop Ltd Multi-let office with AWULT of 12 years. Tenants include Northern Trust and Aztec Jan New Street and Dumaresq House, St Helier, Jersey 14,270, % Hailsham Investments Limited Let on two leases to Bedells Lawyers / Trust on 21 year lease from October 2014 Jan 2015 Ogier House, 44 Esplanade, St Helier, Jersey 27,000, % Standard Life Leased to international law firm Ogier until November 2033 with tenant s break option November 2021

14 PROPOSAL Charter Place is currently held within a Jersey company which our clients are willing to dispose of. As such we have been instructed to seek offers in excess of 12,500,000 (Twelve Million Five Hundred Thousand Pounds) which reflects a net initial yield of 7.85% rising to 8.05% assuming corporate purchaser s costs of 1.50%. Further information is available upon request. Indicative debt terms have been provided and based on our cashflow modelling a geared IRR of 12% and an average return on equity of over 14% (cash on cash) could be obtained. A copy of this modelling can be provided upon request. VAT Value Added Tax is not levied in Jersey. Goods and Services Tax (GST) may be applicable. All figures quoted in this brochure are exclusive of GST and we would recommend that prospective purchasers make their own enquiries in this regard. FURTHER INFORMATION Viewing strictly by appointment with the vendor s agents. For further information please contact: Neil Dovey Telephone: neil.dovey@gva.co.uk Bart Holt-Smith Telephone: bart.holt-smith@gva.co.uk Chris Daniels Telephone: chris.daniels@bnpparibas.com Phil Dawes Telephone: phil.dawes@bnpparibas.com James McFeely Telephone: james.mcfeely@gva.co.uk gva.co.uk/9070 Misrepresentation Act Unfair Contract Terms Act 1977 The Property Misdescriptions Act These particulars are issued without any responsibility on the part of the agents and are not to be construed as containing any representation or fact upon which any person is entitled to rely. Neither the agents nor any person in their employ has any authority to make or give any representation or warranty whatsoever in relation to the property. September RB&Co

76-78 King Street, St Helier, Jersey JE2 3RP

To Let - Prime Retail Shop 76-78 King Street, St Helier, Jersey JE2 3RP 2 Ground Floor of circa 3,877 sq.ft. (360.31 m ) Summary Rare opportunity to acquire a prime King Street retail unit with large floor