Klesch Family buys Jersey office for £44m
Commodities group Klesch Family Office has bought the first office block at Jersey’s International Finance Centre for £43.7m.
The 69,405 sq ft building was completed in March 2017 and fully let this year.
Jersey Development Company said it had made a profit of £10.9m, which exceeded its original projection of £7.5m.
Commodities group Klesch Family Office has bought the first office block at Jersey’s International Finance Centre for £43.7m.
The 69,405 sq ft building was completed in March 2017 and fully let this year.
Jersey Development Company said it had made a profit of £10.9m, which exceeded its original projection of £7.5m.
JDC managing director Lee Henry said: “JDC is delivering a flagship office district that provides the highest-quality office buildings in Jersey. IFC is raising the standards of office quality, specification and performance. There was significant interest from potential purchasers as a result of the quality of covenants of occupiers, the level of unexpired lease term and the quality of the building in terms of design, flexibility and specification. We are delighted with the successful sale and the continued confidence in the market generally both in terms of occupier commitment and end-investors.”
Billionaire investor Gary Klesch added: “I have long held the view that the UK has been held back by the static model of the European Union. Once the UK has left the EU, I believe that it will be immensely more attractive for businesses and investors alike as it becomes a more dynamic market able to adapt to evolving business needs. This investment underpins my view that we will see explosive growth triggered by Brexit, which will increase the demand for high-quality office space in Great Britain and Jersey, as businesses hire to capitalise on the Brexit opportunity.”
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