LaSalle completes sale of Queensway House, Jersey for £19 million (UK)

LaSalle Investment Management has announced the sale of Queensway House, Jersey, for £18,978,000 (approx. €23 mln.) to Redevco UK Ltd, subsidiary of the leading Dutch property company.

Jersey 1

The property is a modern town center mixed investment.

Built in 1975 and fully refurbished in the late 1990s, the property is a modern town center mixed investment. It covers an area totaling approx. 38,000 ft² (3,500 m²) and is occupied by Monsoon and Next at ground level with offices let to Computeshare and two private flats on the floors above.

The purchaser has acquired the freehold of the property from the Jersey based, dedicated holding company for the property owned by a client of LaSalle's, Queensway Properties (St Helier) Ltd.

National Head of Retail for Jones Lang LaSalle Adrian Peachey said: "We are pleased to have secured this sale, which will allow Redevco to acquire an attractive investment in a desirable location. I would like to congratulate the team on their endeavors in completing this transaction."

LaSalle Investment Management spokesperson Ruth McFetridge said: "We are delighted to have concluded this transaction. This sale highlights the continued demand for quality mixed investment space despite the obvious pressure of the economic downturn."

Source: Citigate Dewe Rogerson

Related News