DEALS & CASES | PROPERTY

Fortis Bank - Intertrust and MeesPierson

Dutch Bank Fortis Bank Netherlands NV previously operated in Guernsey under the name of Fortis Intertrust and MeesPierson (C.I.) Limited. Following the reorganisation of the Guernsey Group and the decision to sell Intertrust, Collas Day was instructed to restructure the leasehold arrangements concerning Martello Court, to enable Intertrust and MeesPierson (C.I.) Limited to occupy their own accommodation within Martello Court. The reorganisation also enabled MeesPierson (CI) Limited to take the head lease as the ultimate owners of the building and create a sub-lease for Intertrust . This  involved the alteration of original leasehold provisions and the creation of a sub-lease. The new lease structure developed was designed to provide flexibility without detracting from the value of the asset.

Le Petit Bistro

Acted in the acquisition of the business of Le Petit Bistro, another popular local family-run restaurant, including all commercial and property aspects.

L'Ora Restaurant (now Cabriz)

Acted in the sale of L'Ora Restaurant, a well-known and popular local restaurant, including advising on commercial and property matters.

L'Aumone & St Sampsons Medical Practice

Collas Day acted for the partners of the two medical practices in the negotiation and completion of new institutional leases with St Damian Ltd and new subleases with Lloyds Pharmacy in respect of their two surgeries and pharmacies. The St Sampsons premises are currently in the process of being extended.

Starboard Settlement / Herm Island

Collas Day acted for the trustees of the Starboard Settlement in the acquisition of Herm Island. The transaction involved the negotiation and drafting of a new lease from the States of Guernsey of the 80 acre island and the acquisition from the previous owners of the businesses carried on there which include the White House Hotel and the Mermaid Tavern. A team drawn from Collas Day's Commercial and Property departments worked on the transaction. Extensive negotiation and consultation was required with government and with Guernsey's constitutional representatives in the course of the transaction, making this a unique and highly sensitive transaction. Herm is highly regarded, in particular by the people of Guernsey: the change of ownership attracted significant attention in Guernsey and abroad.

Alderney Renewable Energy Limited

In a world First, Collas Day acted for Alderney Renewable Energy Limited ('ARE') in negotiation with States of Alderney for rights to exploit tidal power in Alderney's territorial waters. This precedent-setting transaction involved the development of new laws, a unique licensing framework, the drafting and negotiation of the supporting commercial agreements and general regulatory advice on the development of the first tidal power project in the UK to move beyond the testing phase. Collas Day also advised on the funding of ARE in various commercial agreements relating to the supply of turbines and equity investment. This project was unique in terms of the type of work being undertaken and the scope of the project in the Channel Islands.

Fort Tourgis

Negotiated and drafted an option buy the freehold of Fort Tourgis in Alderney and a long-term lease for the surrounding land to convert the Fort into a luxury hotel.

Guernsey Housing Association

Following Collas Day’s involvement in the original financing of the initial acquisitions by Guernsey Housing Association (“GHA”) and subsequent development in 2005, Collas Day advised The Royal Bank of Scotland International in the refinancing of GHA to enable work to commence at its latest developments involving key worker accommodation in Guernsey. A separate team within the Department advised GHA.

Freres Properties

Acted for Freres Properties in the sale of Park Place, a recently constructed office building, to Harmsworth Pension Funds Trustees for £9.5m. The building is let to HSBC Private Bank.

Sandpiper Property Holdings

Acted for a local company in their acquisition of a portfolio of commercial properties to the value of £13m. We led the transaction on behalf of the purchaser reviewing freehold and leasehold titles and all issues relating to the acquisition of three target companies.