Trafalgar Court has sold a 113,000 sq ft office building in Guernsey to South African fund Stenprop for £61m.
The property, known as Trafalgar Court, represents around 10% of Guernsey’s office market stock.
The office is leased to Northern Trust on a 13-year term and Aztec Holdings on an eight-year term. Total rent is approximately £4.1m pa representing a net yield of around 6.5%.
Dominic Amey, Colliers International director, said: “We knew Trafalgar Court would be a very big deal for the Channel Islands as there are not many assets of this size and significance that come to the market. However, we received strong interest and secured a deal above the asking price.”
Colliers International acted for Trafalgar Court. Stenprop was unrepresented.
