Redevco acquires prime retail property in St. Helier, Jersey

August 27, 2010

Redevco is pleased to announce the purchase of a 3,500 sq m retail building at Queensway House, 3-12 Queen Street, St. Helier, Jersey. The property is located in the prime retail district of St. Helier, the capital and principal commercial centre on the island of Jersey. The property comprises two retail units, fully let to Monsoon Accessorize Ltd and Next plc. The purchase price is € 23 mn (£ 19 mn).

The property was constructed in 1975 and comprehensively refurbished and extended in 2002. The retail units are situated on the ground, basement and first floor levels. The upper floors are let as offices and residential. The offices are leased out to Computershare Ltd and there are two residential tenants.

Colliers International acted as the adviser to REDEVCO and Jones Lang LaSalle acted as the adviser to the vendor.

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