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£40m Investment In Admiral Park

Comprop has revealed its plans for the completion of works at Admiral Park in St Peter Port.

The local property developer says the plans are designed to inject a further £40 million of private investment into the Island
and support the local construction industry.

The proposed development will complete the Admiral Park site and will provide a 66,500 square feet, six storey landmark building in the centre of Admiral Park. The plans include offices, a restaurant/brasserie, the provision of an additional 64 covered cycle spaces, the completion of the car park, and amenity space to the front of the building including a petanque court. 

But it's understood a cinema is no longer part of the plans as Comprop's search for a cinema partner has proved to be challenging and no operators have expressed any interest. 

Managing Director of Comprop Steve Marie said: “We are all too aware of the impacts that Covid-19 has had on the local economy; so we are delighted that two separate potential occupiers are showing an interest in the building and looking for a long term presence in Guernsey. 

“As the Government pursues initiatives to rebuild the economy, subject to obtaining planning permission, Comprop will be playing a part in assisting the construction industry and wider economy in providing an iconic building to showcase the Island and investing £40 million, at no cost to the taxpayer.”

Comprop’s history with Admiral Park goes back over 20 years having transformed the derelict former gas works site into new homes, offices, Waitrose and the B&Q building.

Most recently, in the summer of 2019, they announced the construction of a 100-bedroom Premier Inn Hotel, a multi storey car park and 30,000 square feet of state-of-the-art office accommodation.

This office building is now already 75% let and Comprop says this demonstrates the demand within the financial and professional services industries for Class A office accommodation.

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