Channel Islands investment firm Polygon Collective has expanded its commercial property portfolio with the acquisition of Bucktrout House in St Peter Port.
The firm, which also has a lease with an option to purchase on Les Vardes House in La Charroterie, plans to refit both buildings in tandem using local contractors.
Polygon Deputy Chairman Alex Belcher commented: "We continue to see real demand in bespoke yet flexible and affordable office space.
"Our model is to create smart spaces for businesses to thrive, meet and work in as part of a community – spaces designed and equipped to enable anyone from start-ups to established businesses to connect, collaborate and grow.
Inter-island space
"It will also be the first inter-island space, whereby tenants can freely use facilities between the islands as a hub for meetings, work and presentations," Alex Belcher added.
Ninety per cent of Polygon's portfolio is spread across Jersey and Guernsey.
Founder and Chairman of Polygon Martin Belcher (pictured) said: "We have faith in the Channel Islands and see significant opportunities for expansion in the post-Covid world, particularly if Guernsey can move forward as a ‘virus-free bubble’.
"Times are changing in how we work – shorter terms, more flexibility and affordable facilities that create the right environment for businesses to thrive have to be the way forward."
Start-up support
"We are seeing a lot of innovative start-ups and want to be able to assist in their growth. Working with stakeholders in Guernsey, we intend to develop a bursary that will assist start-ups not only financially but also give mentoring, advice and office space.
"Our ambition is to establish a tech zone in Guernsey with businesses, the States, lawyers, accountants and investors working in close cooperation."
Carey Olsen's commercial property team has supported Polygon Collective in facilitating its investment into the serviced office market in Guernsey. The team was led by Partner Jason Morgan, with assistance from Associate Kieran Ogilvie. Senior Associate Rachel Jones supported on the planning aspects.