Tiger Developments has acquired 43,590 sq ft of offices in Guernsey for £14.8m from a private vendor.
The deal, which reflects a net initial yield of 7.49%, includes St Martin’s, St Andrew’s and St Peter’s Houses in Le Bordage.
The offices are currently let to Royal Bank of Scotland, Rothschilds and Marsh Management Services, representing a rent of £1.15m pa on an unexpired term of around six years.
Knight Frank represented Tiger Developments.
References: EGi News 13/09/06
