Royal Life Insurance has sold the 2,048 sq m (22,048 sq ft) Crown House, 18-20 Grenville Street, St Helier, Jersey. The sale price of £4.5m reflects a net initial yield of 8.5%.
It was bought by the sole occupier, Mourant du Feu & Jeune, whose lease on the property was due to expire in 2006.
Royal Insurance Asset Management and St Quintin acted on behalf of Royal Life. The purchaser was unrepresented.
EGi News 21/08/96
