Carey Olsen's Guernsey office has advised on the £61.3 million acquisition of the island's largest commercial office building, Trafalgar Court, to South African property fund Stenprop Trafalgar.
Carey Olsen's commercial property team advised on all aspects of the transaction and included Partner and Head of Property, Jason Morgan, along with Senior Associates John Le Tissier and Jonathan Anderson.
Trafalgar Court forms part of the Admiral Park development in St Peter Port. It comprises 113,000 sq.ft. of prime office space which has been finished to a high specification. Current tenants include Northern Trust and Aztec Financial Services with the fund's investors likely to see a net yield of approximately 6.5 per cent.