12 November 2020

Eight-figure sale of St Julian's Court shows 'continued confidence' in Guernsey commercial property market

Lawyers from Carey Olsen's property team have advised the owners of St. Julian's Properties Limited on the sale of St Julian's Court in Guernsey for £13.785 million to an investor group led by UK property group Craigard.

The prime office buildings, located on St Julian's Avenue in St Peter Port, offer 32,400 sq ft of Grade A office space. The building is fully let to international financial services businesses including Rothschild & Co Bank International.

The Carey Olsen team that advised on all aspects of the transaction comprised property partner Jason Morgan and senior associate John Le Tissier.

Jason said: "We were delighted to advise our client on this transaction. It is yet another commercial property deal that demonstrates the continued confidence in Guernsey's property market as an investment opportunity and one that provides landlords with strong long-term investment fundamentals."

Watts Property Consultants acted as joint property agents on the sale alongside Jones Lang LaSalle. Managing director Joanna Watts said: "This deal is of huge significance to Guernsey, as it underlines further the flight for safety in a very difficult global environment. It is therefore a genuine testament to the role the island plays as a secure and stable jurisdiction within which to do business."