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Data Park site sold

Data Park site sold

Tuesday 27 August 2019

Data Park site sold

Tuesday 27 August 2019

A real estate developer who has purchased the site previously touted for a data park has "no definite plans" for the land - however updates are expected later this year.

The 15-acre site located off Route Militaire was cleared of structures, asbestos and below-ground storage by Guernsey Data Park Ltd before the Longport company went into administration in 2016.

After being marketed by Watts & Co on a best bids basis earlier this year, the site was acquired by the RED fund, a real estate developer which is backed by private investors, all with links to the Channel Islands. 

Andrew Haining, Chairman of RED fund, said the investors were not yet in the position to reveal their plans for the site. 

"Our aim is to identify sites that have stalled or need significant investment, acquire them and then realise their potential," he said of the fund. "The fund is backed by investors with a real passion for the future success of the Channel Islands and has a network of experienced and professional advisers which enables it to tackle what some might see as difficult sites.

"We know how unsettling the last few years have been for neighbours living around the site and now that we have acquired it, our intention is to work with our advisers in conjunction with the planning department and identify what the future make up of any development will be. It is a large site surrounded by houses and businesses and we are mindful that some roads particularly to the north and east can become congested and this will all be taken into consideration.

"At this point, we have no definite plans as to what might or might not be included."

Mr Haining said further updates will be given later in the year once plans had progressed.

A spokesman for the administrator Deloitte said it was delighted that a buyer had been found for such an important site.

"The site was a rare opportunity to acquire a large industrial development which had already been cleared and was ready for work to begin," they said. "There was a great deal of interest from a number of parties and we wish the new owners every success."

Pictured top: The Data Park site. 


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