Following the closure of Intersurgical’s local manufacturing facility at Circuit House, Pitronnerie Road in October, local building merchant, Guernsey Building Supplies, has successfully acquired the building for their new trade counter and distribution centre.
After a brief marketing period and expressions of interest from a number of prospective purchasers, Watts Property Consultants, acting as selling agents, received competitive bids from three parties. Guernsey Building Supplies was selected as the preferred bidder. The facility comprises 40,740 sq ft of warehousing and was sold for £4,650,000. Guernsey Building Supplies now plans to refurbish the building to provide a much larger offering than their current centre at Guelles Lane.
James Sherborne, Joint Chairman of the Sydenhams Group, which owns Guernsey Building Supplies and has other 32 branches across the UK, said: “We are delighted to have been presented with this opportunity. Acquiring Circuit House now enables us to serve the Guernsey trades with a wider range of products and services. It also allows us to continue to develop the business in line with our other successful branches across the south of England.”
Joanna Watts, Managing Director of Watts Property Consultants said: “In a market of such restricted supply, assets such as Circuit House are exceptionally hard to come by. The interest we received demonstrates tangible demand for sizeable units such as this. This opportunity creates real potential for the growth of a local business and we are delighted to have worked with Intersurgical and Guernsey Building Supplies, to take the building to its next phase.”
James Birch, Director of Intersurgical (Guernsey) Limited said: “Whilst it has been a sad and difficult period overseeing the closure of a business that has operated in Guernsey for almost 40 years, we are very pleased about the opportunity this presents for Guernsey Building Supplies and look forward to seeing the building being repurposed for their needs going forward.”
Ogier acted as legal advisors for Intersurgical and Collas Crill acted for the purchaser.
