Frances House

Description

https://vimeo.com/ /27385aee84?share=copy&fl=sv&fe=ci We are instructed to seek offers in excess of £12,540,000 (twelve million five hundred and forty thousand pounds), subject to contract. A purchase at this level reflects an attractive net initial yield of 7.50% exclusive of purchaser’s costs of 7.60%. As the asset is also held in a Guernsey Special Purpose Vehicle, there is an opportunity for collective investment schemes to acquire on a document duty exempt basis, thereby benefitting from a net initial yield of circa 8.00%. Frances House offers a rare opportunity to acquire a fully-let, high-quality office investment generating an annual rent of £1,012,059. Comprehensively refurbished in 2023, its contemporary finishes set a new standard of design in the Guernsey office market. Located in the heart of the financial services district, redeveloped to an exceptional standard and let to nine corporate tenants, this market-leading asset provides a rare opportunity to acquire a strong and diverse income stream, with an exemplary letting track record. Prime office building Highly central location 25,662 sq ft of accommodation with 31 parking spaces Comprehensively refurbished in 2023 to an exceptional standard Third floor roof terrace with stunning sea views Fully let to nine corporate tenants Strong rental growth profile 36.6% of the rent is due for review in 2027 which is likely to increase the rent by over £43,000 per annum, translating to a yield of 7.8% Range of suite sizes maximising lettability Generous parking ratio Exceptional letting track record Term Certain: 7.8 years to expiry (4.2 years to the breaks) 83% of the rent anchored by GFSC Regulated Entities Guernsey is regarded as one of the world’s leading offshore centres with a Standard & Poor’s credit