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Sale Sole Agency | Office

Bordage House Fully-Let Investment

Le Bordage, St Peter Port, GY1 1BU
  • Total Space
    12,307 SQ FT
  • Location
    Central
  • Wault
    5.8 years
  • GRPI
    Rent Reviews
  • Specification
    Category A
  • Multi -Tenanted
    Fully Let
Investment Rationale
  • Rare opportunity to acquire a fully let multi-tenanted income producing asset
  • Well specified corporate offices with parking in central location, in one of the world’s leading offshore centres
  • Recently refurbished reception and ground floor office suite
  • Exceptionally strong tenant profile anchored by Butterfield Bank (Channel Islands) Ltd
  • WAULT of 5.8 years to Lease Expiry
  • GRPI rent reviews with next reviews in June 2022, providing opportunity for further growth
  • Asset management potential to include additional parking
Location

Bordage House is situated in the centre of St Peter Port at the bottom end of Le Bordage, one of the main arterial routes into St Peter Port.  It therefore occupies a central location, a short walking distance from the High Street, the Market development and the main business district. 

It enjoys a double frontage onto Le Bordage and Mill Street and is bound by Tudor House to the west and Creasey's Kids to the east.  Other occupiers in the vicinity include Skipton International, LTS Tax, BDO Accountants and Guernsey Finance.

Description

A rare opportunity to acquire a fully let multi-tenanted income producing asset.

Bordage House is a modern office building comprising approximately 12,307 sq ft of office accommodation arranged over ground and four upper floors.  There is also a self-contained retail unit at the rear of the property which is accessed directly from Mill Street.

The property was redeveloped in 1997/98 and has an attractive granite clad frontage to the ground floor elevation and is served by a secure car park with parking for approximately 6 vehicles.  This is accessed directly from Le Bordage.

The main reception and ground floor office has also just been extensively remodelled and refurbished to provide modern corporate space, suitable for those in the finance sector and corporate services sectors.

Accommodation

The premises provides 12,307 sq ft of accommodation arranged over ground and four upper floors, as follows:

Floor Area (sq ft)
Ground 1,220
First 2,670
Second 4,100
Third & fourth 3,677
Retail unit    640
Total 12,307

 

Tenancy Details

The property is multi let to five tenants, providing a diverse and well balanced income profile, as outlined in the tenancy schedule below. The passing rent is £324,766 per annum with all the office leases having potential for further rental growth by virtue of the upwards only GRPI rent reviews. In addition, the WAULT is an attractive 5.8 years to expiry with all leases being granted on effective FRI terms, subject to a service charge in respect of the common parts.

Tenure

Freehold.  The property is available to purchase by conveyance

Price

Upon Application.

Availability

The property is available to purchase immediately.

Legals

Each party is responsible for its own legal costs.
All terms are subject to contract.

  • Valuation

    We have a team of RICS Registered Valuers who combine experience, local market knowledge and high standards of professionalism to provide valuation reports tailored to provide clients with the information they require.

  • Property Management

    Our dedicated Property Management Team has a broad range of technical and financial management skills to ensure the properties we manage are in safe hands.

Sale Sole Agency

Bordage House Fully-Let Investment

 
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