Collas Crill advises on £41.7 million acquisitions

Monday 18 August 2014

Collas Crill has advised the Channel Islands Property Fund Limited on a placing of a further 41,775,000 shares on to the official list of the Channel Islands Securities Exchange.

The proceeds of the placing - valued at £1 each - were used in the acquisition of two commercial properties in the Channel Islands: 40 Esplanade and Glategny Court in St Peter Port.

A Collas Crill team led by Paul Wilkes and Wayne Atkinson, working with Gareth Morgan and Kit Hobbs, advised in relation to the placing, financing arrangements and company aspects of the acquisitions while Collas Crill's commercial property team (Advocate Chris Bound, Advocate Jason Green and Joe Le Cheminant) advised in relation to the acquisition of Glategny Court.

Mr Atkinson said: "It was a pleasure to be involved in this substantial transaction in the Channel Islands. Advising a Guernsey-domiciled and regulated investment fund with a Guernsey manager and broker (Ravenscroft Limited) - on the acquisition of two significant Channel Islands properties and the placing of shares on the Channel Islands Securities Exchange - clearly illustrates the depth of financial and legal expertise in the islands and, specifically, of the professionals involved both at Ravenscroft and Collas Crill.”