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Carey Olsen advised Comprop on the sale of the former GT Cars site to the Channel Islands Co-Operative Society Limited.
Following the sale, Comprop has agreed to develop the site for its new owners. With completion of the development anticipated during the latter part of 2015, it will provide a 1,883 square foot ‘En Route’ store, similar in size to the En Route in St Andrew, six fuel pump islands, a retail store and light industrial units to the rear of the site.
The sale and subsequent development of this site is the culmination of a number of years of planning by Comprop. Carey Olsen advised on the acquisition of the site back in 2002 and has been the developer's lead counsel since that time.
Carey Olsen property partner, Jason Morgan, was assisted by senior associate, Jonathan Anderson, who said: “This transaction proved quite complex to document. It took some bespoke drafting, novel structuring and required all parties and their respective advisers really to put their heads together in order to get the deal done. The deal represents the culmination of a lengthy development process and one which we are very pleased to have been able to assist Comprop with."
