• Rare opportunity to acquire a 1.6 acres partly tenanted, high grade industrial site, with potential for owner occupation on premises occupied by Rabey’s Garage
• Currently generating a total income of £139,155 per annum from AFM, rising to a minimum of £150,956 per annum in August 2024
• Prominent location on the eastern seaboard, along the main container route, close to St Sampson’s Harbour
• Excellent visibility with good main road frontage and unrestricted access for large articulated vehicles
• Development potential to front yard comprising in excess of 14,000 sq ft
• Bordeaux House fully let to Amalgamated Facilities Management Ltd
• Secure income until August 2036 on Bordeaux House (occupied by AFM)
• Full repairing and insuring lease with GRPI reviews, offering guaranteed growth
• Bordeaux House has recently been refurbished throughout to provide new headquarters for AFM, to include new M&E, new lift and newly fitted offices and WC facilities
• Opportunity to occupy or relet premises previously occupied by Rabey’s Garage, as a whole or in part
• Warehouse premises offering a combination of four independent units with ample yard areas, providing excellent opportunity for sub division
• Very constrained industrial supply in Guernsey, with only 115,000 sq ft currently available to occupy with prime rents in Guernsey reaching £11 - 14 psf
• Freehold

• AFM lease currently subject to uncapped GRPI rent reviews, with Guernsey RPI currently running at 8.50% per annum
• Very restricted supply of high grade warehousing particularly for purpose built units for commercial vehicle maintenance
• Development potential to the front forecourt and yard area
• Opportunity to re-let or occupy premises previously let to Rabeys Garage Ltd for use either as a commercial mechanics yard or for storage and distribution or a range of alternative light industrial uses
• Ability to subdivide the Rabey’s units, by virtue of the five individual units on the site

The Property occupies a prominent position to the north of St Sampson’s Harbour in close proximity to the Bridge.  It therefore enjoys extensive main road frontage, within a Key Industrial Expansion Area, with excellent accessibility for large articulated vehicles. Other occupiers in the vicinity include Ronez, Geomarine, Magnet, DWA, Guernsey Recycling, Siteweld and Channel Welders.

Guernsey’s restrictive planning regime and limited land mass means there is a significant supply constraint for industrial accommodation, with demand exceeding supply, particularly for better quality units.  As such, there is currently less than 115,000 sq ft of stock currently available, as well as a very limited development pipeline.

The Property comprises a 1.6 acre site upon which is five independent light industrial buildings arranged around an extensive yard area. It is split into three sections, with the rear (northern) and front (southern) sections being previously occupied by Rabeys, with the middle section being let and occupied by AFM.

The built structures together comprise 22,648 sq ft, with Bordeaux House having recently been extensively refurbished to provide air conditioned headquarter offices and stores for AFM.

The remaining units were formally utilised for commercial vehicle servicing, storage units and sales, with the main units providing excellent eaves ranging from 5.572 m to 7.495 m.

The main workshop has recently benefited from new roof, new canopy and new loading doors.

Bordeaux House is fully let and is subject to a full repairing and insuring leases to Amalgamated Facilities Management Ltd which is a well established local tenant.  The lease expires on 5 August 2036 and the current rental is £139,155 per annum.  The rent is subject to three yearly GRPI rent reviews, the next of which is on 6 August 2024.

Below is a breakdown of accommodation and rent. 

The site is available to purchase immediately.

Freehold.

In excess of £3,600,000 (Three Million, Six Hundred Thousand Pounds).

All terms are subject to contract.
Each party shall bear their own legal costs in connection with this transaction.