Carey House sold

Tuesday 18 February 2020

Carey House, next to the Admiral Park offices, has been sold by the Channel Islands Property Fund to a Guernsey-based family office.

The building, which is the main office of Carey Olsen, was bought by CIPF in 2015 for more than £16million.

It has now been sold by share transfer for an undisclosed sum.

Watts Property Consultants acted as the acquisition agent for the purchaser.

"The Channel Islands Property Fund has a focus on investing in high specification commercial buildings in order to deliver a good return to the investors," said CIPF Chairman, Shelagh Mason.

"Carey House has been an important part of our property portfolio, which now includes offices in Guernsey, Jersey and the Isle of Man, and so we are pleased that it will remain locally owned.

"CIPF is now looking at another Grade A, multi-tenanted offices which we can acquire to deliver our stated investment strategy. It's positive news for the Channel Islands that's the commercial property market in the islands continues to be buoyant."

Carey House is 26,472 sq. ft and comes with 100 car parking spaces. It was originally known as Commerce House but, following a £4m redevelopment, was renamed by Carey Olsen in 2007.

Pictured top: Carey House.