CIPF acquires newly refurbished office building

Monday 10 August 2020

The Channel Islands Property Fund has acquired the Valley House office building in Hirzel Street for £7.7 million.

The building, which spans 14,782 square feet, five floors and 20 parking spaces, is already home to Oak Group Limited, who have made it their Guernsey headquarters.

“Valley House is a modern office which has been comprehensively upgraded in the last year to meet the latest building requirements,” said Shelagh Mason, chairman of CIPF. “It is an ideal property to add to the portfolio of the Channel Islands Property Fund, which has a focus on investing in high specification commercial buildings.

“2020 has not been the year which was expected for the Channel Islands property market, but it’s positive to see that the residential market is picking up pace and that there is increasing activity in the commercial market.”

CIPF’s portfolio includes offices in Guernsey, Jersey and the Isle of Man.