Frances House is a prime, fully let office investment extending to approximately 25,662 sq ft in the heart of St Peter Port’s financial services district.

Comprehensively refurbished in 2023 to an exceptional standard, the property provides high-quality contemporary office accommodation across a range of suite sizes and is fully let to nine corporate tenants.

The property currently generates a total annual rental income of £1,012,059.

Location

Frances House occupies a highly central position on La Plaiderie, St Peter Port, between the main retail centre and St Julian’s Avenue.

The property sits at the heart of Guernsey’s traditional financial services district and is within easy walking distance of the town centre, harbour and long-stay public parking at North Beach and Salerie Corner.

Accommodation

The property provides approximately 25,662 sq ft of office accommodation arranged over the ground and three upper floors, comprising nine office suites within the main building and a separate wing with independent access.

A range of suite sizes provides flexibility for multiple occupation, while the upper floors benefit from excellent natural light and sea views.

Specification

Frances House was comprehensively refurbished in 2023 and provides contemporary Cat A office accommodation with high-quality common areas.

Features include air conditioning, LED lighting, raised access flooring to the main building, lift access, modern kitchen facilities, refurbished WCs and showers, secure cycle storage and locker facilities.

The third floor also benefits from roof terraces with impressive views across St Peter Port harbour.

Parking

31 on-site parking spaces are provided.

Tenure & Tenancy

The property is held freehold and is fully let to nine corporate tenants.

83% of the rent is anchored by GFSC regulated entities, with a WAULT of 7.8 years to expiry and 4.2 years to break.

The property has an exceptional letting track record and benefits from a strong rental growth profile.

Investment Highlights

• Prime, fully let office investment
• 25,662 sq ft of accommodation
• 31 parking spaces
• Comprehensively refurbished in 2023
• Fully let to nine corporate tenants
• £1,012,059 annual rental income
• 83% of rent anchored by GFSC regulated entities
• Strong rental growth profile
• Third floor roof terraces with sea views

Proposal

Offers are invited in excess of £12,540,000, subject to contract.

A purchase at this level reflects a net initial yield of 7.50%, exclusive of purchaser’s costs of 7.60%.

Full tenancy information, investment analysis, floorplans and further property details are available in the downloadable brochure.