Carey Olsen has acted for the Prudential Assurance Company in the sale of refurbished office premises in Jersey for £2.75m.
The Carey Olsen team, led by partner Chris Philpott and senior associate Will Whitehead, has advised Prudential in respect of this asset for several years, in particular with the restructuring of the leasehold interests at the property for onward sale.
A newly-refurbished, fully-tenanted commercial property comprising just under 10,000 square feet of office and residential premises, 7 Esplanade attracted substantial interest from potential investors.
Mr Philpott said: “This sale demonstrates continued confidence in the Jersey commercial property market. We are pleased to have acted for Prudential to see this particular project through to its completion and to have supported our client in achieving their objective of developing a property that proved incredibly popular with potential buyers.”