Acting for the partners of the Medical Specialist Group (MSG), SPF brokered a £7 million deal to purchase, Alexandra House and Mill House, and secure a long-term base for outpatient services for the island.
Alexandra House and Mill House were both built by the founding doctors of the MSG, under the banner of Vignon Properties, and SPF arranged for the current partners to purchase both buildings from them.
SPF Director, Jez Robin, who managed the deal, comments, “This was a quite complex transaction in that it involved a purchase by multiple parties, but we relished the challenge and not only secured very favourable bespoke terms but did so at a highly competitive rate.”
HSBC, Country Head of Corporate & Commercial Banking, Guernsey Paul Smith further adds – “it was a pleasure to work with the teams at SPF and MSG on the deal and we are proud to provide such a tailored funding solution. This now provides a platform for the MSG in which to develop its services for the benefit of the island and we very much look forward to partnering in the future.”
Securing the premises allows MSG to fully explore possibilities to ensure they are able to meet the longer-term needs of Guernsey patients, with expected growth in need due to demography and technological developments.
Dr Gary Yarwood, consultant anaesthesia and Intensive Care Medicine and Chair of the MSG, said, “As the founding partners had all retired, it was important for us as today’s partners to secure the buildings as medical practices. The deal achieves both security for our patients and the legacy of our pioneering founders.”