Field Day Developments, a UK-based commercial property development and investment specialist, is set to boost Guernsey’s quota of prime office stock when it completes its fourth major office refurbishment next year.
Alongside its long-term partner, Rothay Capital, the firm has invested over £5m in regenerating Guernsey’s office stock over the past three years, with local building and property specialists contracted to undertake much of the work.
Earlier this year, an office quality audit, commissioned by the States of Guernsey and undertaken by Watts Property Consultants, identified an undersupply of prime accommodation and a growing need for quality office space.
Located in the heart of St Peter Port’s financial district and the main retail area, Frances House will be subject to a full refurbishment, including new LED lighting, raised access flooring, a refurbished terrace with sea views and state-of-the-art kitchen facilities. The common areas are also due to be updated to provide a contemporary and design-led finish.
This latest project follows Royal Terrace, which was finished to a high specification in May and Windsor House, whose premium refurbishment was completed earlier this year. The investment further underpins confidence in the local commercial property sector and highlights Guernsey’s growing reputation as a stable and lucrative investment proposition.
Luke Daynes, Commercial Director at Field Day Developments, says: “We’re really pleased to be taking on our fourth major office project here in Guernsey. We know there is a growing need for modern, design-led office stock that appeals to tenants, and we’re committed to bringing our expertise to the island to meet these demands head-on.
“It is our seventh commercial property project here in Guernsey, where we’re keen to grow our property portfolio further, and we’re looking forward to launching new projects into 2022 and beyond.
Joanna Watts, Managing Director at Watts Property Consultants, says: “We’re thrilled to be working with Field Day Developments on this latest commercial project. The audit we undertook on behalf of the States highlighted a stark lack of prime office spaces and ongoing interest in Frances House indicates that there’s strong appetite for these modern, contemporary units; we are already down to our last few suites.”
“Working alongside Luke and his team, we’re pleased to be rectifying this while boosting Guernsey’s status as a safe, stable and appealing place to do business.”
Field Day Developments is also overseeing the development of Rock Health (shown in the main picture), the Channel Islands’ first multi-tenancy premium fitness destination at the site of the former Island Bowl, which is opening from this month.