Property developers and investors continue to show confidence in the Channel Islands economies despite the coronavirus pandemic, according to Investec Bank.
Investec says that both the quality and innovative nature of the projects it has funded demonstrate that while there has undoubtedly been economic pain across all sectors, developers believe the underlying ability for the economy to recover and discover renewed growth is strong.
Brendan Stewart, Chief Executive of Investec in the Channel Islands said: “In the last year we have worked with a number of entrepreneurial clients on a broad range of projects, from residential to commercial. What we are seeing is an appetite to create premium spaces for rental or purchase.
“As the Channel Islands’ leading Private Bank lender, we can attest to the vibrancy of the market and that’s a good sign for our local economy. We believe that this success is also testament to the way we work with clients, forming long term trusted relationships and our solutions-focused approach to banking”.
An example of the type of project funded by Investec that has come to fruition is the acquisition an redevelopment of Rock Health, formerly known as Island Bowl, by Harlyn Holdings Limited. The iconic, if tired venue, is being transformed into the island’s first multi-use fitness centre.