Admiral Park office build is paused after tenant withdraws

Developer Comprop confirmed it had put a temporary stop on works on phase two of the development due to a change in circumstances for its proposed tenant, but said it remained fully committed to its £40m. investment in the completion of this final part of Admiral Park.

This final phase covers an office development and is on the eastern edge of the current development site to the rear of Trafalgar Court.

Comprop also stressed that there was no impact on the first phase of the project, due for completion at the end of this year. This phase includes a 100-bedroom Premier Inn hotel, a multi-storey car park and 30,000 sq. ft of office accommodation that is undergoing a tenant fit out.

Phase one also includes a restaurant, plus local infrastructure improvements such as landscaping and upgrading the existing road infrastructure.

‘As I am sure all are aware, we have been working on phase two, which is the final office project, for quite some time and have just completed the piled foundations for the new building,’ said Comprop managing director Steve Marie.

‘However, due to factors totally outside of our control, we have been put in a position whereby we need to pause the current works which we hope will only be for a short period.

‘A temporary stop at this early stage gives us the opportunity to discuss internal fit out options and requirements with the other prospective tenants, with whom we are already in discussion. We remain fully committed to Comprop’s £40m. investment in the completion of this final phase of Admiral Park.

‘Importantly, this has no effect on the current phase one project, which is to complete a Premier Inn, office building, restaurant, car park and all of the infrastructure improvements to the area, which are ongoing and due for completion by the year end.’

Aztec Group – the Jersey-headquartered fund administration and corporate services provider which is well-established in Guernsey – confirmed that its planned move to the second part of the Admiral Park development was no longer happening. A spokeswoman said the business had entered into a new lease for its current space in Trafalgar Court.

‘This decision underlines our commitment to providing a flexible working environment in Guernsey that supports our collaborative culture, and allows us to retain the fantastic office location that we have enjoyed for the last seven years,’ she said.