D2 RE is delighted to have worked alongside Matt Birch from MRB Surveyors in the sale of Valley House, Guernsey for £7.7m.
The property is undergoing a significant refurbishment and has been prelet on a 15 year lease.
This is the first significant commercial sale to have taken place during the pandemic and demonstrates the resilience of the Channel Islands investment market.
With interest rates at all time lows, along with an uncertain economic outlook, there is strong demand for investments let on long leases to good covenants. In this case, the lease is for an unbroken term of 15 years, so is very appealing to the purchaser, The Channel Islands’ Property Fund (a closed ended listed fund) as they are able to continue to deliver generous dividends with minimal risk.