A 90,000sq.ft office development on the east side of Admiral Park should be completed by next summer. ComProp is rapidly progressing with the development, which will cost more than £30m.

It is on target to hand over the two 45,000sq.ft buildings on the corner of Les Banques and Elizabeth Avenue to tenants Kleinwort Benson and MeesPierson Reads.

Underground car parking on two levels for more than 600 vehicles and all the structural steel work have been completed.

Glazing is being installed on the northern office block in preparation for cladding works to start later this month.

‘This project is on schedule and progressing very well. As the office development takes shape, the sharp design will progressively become more evident,’ said ComProp chief executive Nigel Jones.

‘This substantial office development represents

the opportunity for large companies such as Kleinwort Benson and MeesPierson Reads to consolidate their various operations situated in different locations and to amalgamate their business in one central building, providing greater productivity and efficiency.’

Mr Jones said that the building was an example of forward-thinking design and architecture.

Kleinwort Benson has signed a 21-year lease for one building, known as Flagship North.

The company will consolidate its operation from its two existing Town offices and move the 220 staff early in 2005.

MeesPierson Reads, one of Guernsey’s largest financial services companies, has signed a 30-year lease.

All 250 staff will move in 2005 into the building, known at the moment as Flagship South.

ComProp’s next project will be to build 82 flats adjacent to the office development along Les Banques on the former Fruit Export site.

This will feature one-, two- and three-bedroomed apartments designed to take full advantage of the coastal views.

Most will be aimed at the local market, but eight open market penthouses apartments will be included.

All will have balconies and their own dedicated underground car parking, visitor spaces and themed landscaped gardens at the front.

‘The apartments are the next phase of developing Admiral Park and providing islanders with the best- possible retail, leisure, living and business facilities – a new way of life,’ added Mr Jones.

‘We are confident that there will be a significant demand for these prime, modern, seafront apartments.’