A cross-practice team from Carey Olsen's Guernsey office has advised Stenprop, a UK multi-let industrial property company, on the £55m sale of Trafalgar Court in Guernsey to ARC Global.
The prime office buildings at Admiral Park in St Peter Port offer 10,564 sq m of Grade A office space.
The sale to ARC Global, a subsidiary of Global Net Lease Inc, further progresses Stenprop's strategy to become a 100% UK multi-let industrial business by March 2022.
It increases its multi-let industrial portfolio from 83% to 92% of its total portfolio.
It also paves the way for the company's proposed move to the Premium Segment of the Main Market of the London Stock Exchange before 31 March 2022.
The Carey Olsen cross-practice team was led by Partners Jason Morgan (property) and Ben Morgan (corporate), supported by Senior Associates James Cooke (corporate) and John Le Tissier (property) and Associates Kieran Ogilvie (property) and Jamie Oldfield (corporate).
The deal was undertaken via the sale of all of the issued share capital of a special purpose vehicle wholly owned by Stenprop.