The data park site comprising 14.67 acres of land located off Route Militaire was marketed by Watts & Co on a best bids basis and sold to RED fund, a real estate developer which is backed by private investors, all with Channel Islands’ links.
A spokesman for the administrator Deloitte said it was delighted that a buyer had been found for such an important site.
“The site was a rare opportunity to acquire a large industrial development which had already been cleared and was ready for work to begin. There was a great deal of interest from a number of parties and we wish the new owners every success.”
Prior to Guernsey Data Park Ltd going into administration, works had already been undertaken on the site which included the removal of built structures, the clearance of asbestos, the decommissioning and removal of below ground storage, waste oil and oil tanks and the creation of the main access road onto Route Militaire. Outline planning consent had also been granted based on the existing development brief.
Andrew Haining, chairman of RED fund, said the data park site was the ideal acquisition for the fund
“Our aim is to identify sites that have stalled or need significant investment, acquire them and then realise their potential. The fund is backed by investors with a real passion for the future success of the Channel Islands and has a network of experienced and professional advisers which enables it to tackle what some might see as difficult sites,” he said.
“We know how unsettling the last few years have been for neighbours living around the site and now that we have acquired it, our intention is to work with our advisers in conjunction with the planning department and identify what the future make up of any development will be. It is a large site surrounded by houses and businesses and we are mindful that some roads particularly to the north and east can become congested and this will all be taken into consideration. At this point, we have no definite plans as to what might or might not be included.”
Mr Haining said further updates will be given later in the year once plans had progressed.
