Boost for island's commercial property market

A warehouse on Lowlands Industrial Estate vacated by Scope Furnishing, which has moved to Newlands Industrial Estate, is now vacant and owner Walter Property has secured permission to convert part of it into 7,200sq. ft of office accommodation on a single floor plate with 60 car parking spaces.

'With no major developments in the pipeline for the next few years and Walter Property's ability to work with occupiers to deliver schemes tailored to their specific needs, we believe these premises will meet a real need in the marketplace to fulfil the Commerce and Employment Department's aspirations,' said Eleanor Saunders, company secretary of Walter Property.

'Cost-effective and efficiently laid out premises with good access and parking is what modern occupiers are demanding.'

Jo Watts, managing director of Watts and Co, said the scheme would offer affordable out-of-town office space, which would be valuable as much of the island's best large floor plate office space has now been taken, including floors at Glategny Court, Trafalgar Court at Admiral Park, and at Royal Bank Chambers.