The property was acquired from the Channel Islands Property Fund in an off-market deal on confidential terms and will undergo a comprehensive refurbishment with the top floor retained for owner-occupation with the remaining 25,000 sq ft let and held as an investment.

Commenting on the transaction, CEO, Edward Moore commented "Whilst the fortunes of the office sector have been mixed in the UK generally, the dynamics of the Jersey market make it a favourable investment location insofar as occupational demand remains strong with very few people working from home and take-up levels remaining consistent year-on-year. On the supply side there is an acute shortage of space as a result of an absence of any speculative development since 2018. This imbalance between demand and supply will result in strong rental growth in good quality second generation buildings over the next 12 months."