Ogier has advised Watergate Holdings Limited on all aspects of the £5.5 million financing and acquisition of Park Place, St Peter Port.
The Ogier team, led by partner Christopher Jones, provided Guernsey law advice on the financing and acquisition.
The Ogier team included managing associate Paul Chanter and associate Jonathan Branch advising in respect of the financing, senior associates Claire Smith, Piers Dereham and conveyancer Daniel Harradine advising in respect of construction and property law, and head of real estate administration Lawrie Cunningham and assistant manager James Philpott of Ogier Global Limited as corporate administrators of the Guernsey SPV incorporated to purchase the property. Partner Martyn Baudains advised the vendor on property aspects.
Christopher said: "We were pleased to advise on the financing and acquisition of a well-known Guernsey commercial property. Deals of this type provide an opportunity for us to showcase the strength that we as a firm can bring to a transaction across a number of legal disciplines".
The property is undergoing an extensive refurbishment and will then be made available to either purchase or let through co-agents Rock Commercial and Watts & Co.