The Channel Islands Property Fund, which owns a number of flagship office buildings in Guernsey and Jersey, has a new chairman.
Shelagh Mason has replaced Peter Tom, who has stepped down to concentrate on his other business commitments, including his recent appointment as chairman of Jacksons Channel Islands. Both the Channel Islands Property Fund, whose portfolio includes Regency Court and Glategny Court in Guernsey and offices in Seaton Place and on the Esplanade in Jersey, are managed by Ravenscroft Limited.
‘The Channel Islands Property Fund has seen incredible success under Peter’s chairmanship and delivered above market average returns for its investors through the acquisition and management of commercial property across the Islands. We want to thank Peter for his excellent leadership and are delighted that his links with Ravenscroft will remain strong through his involvement with Jacksons,’ said Ravenscroft group chief executive, Jon Ravenscroft.
‘Shelagh was the natural choice to take over from Peter as she has been an active member of the board and has in depth understanding of its unique approach. Her experience as a commercial property solicitor will be invaluable. Together with Paul Bell and new director Brian O’Mahoney, she will ensure that the Channel Islands Property Fund continues its present success.’
Mrs Mason has more than 30 years’ experience as a commercial property solicitor and is now acting as a consultant to Collas Crill. She is a non-executive director of MedicX Fund Limited and of the Renewables Infrastructure Fund, both of which are listed on the London Stock Exchange, and a director of a number of other property funds including The Leadenhall Property Development Company Limited, which developed the iconic London building known as the Cheesegrater.
‘The volatility of the stockmarkets has led to an increase in the number of investors seeking to diversify their investments and choosing what they consider less risky funds. Commercial property, particularly in the Channel Islands, offers the stability they are looking for. I want to use my experience to ensure that the Channel Islands Property Fund continues to deliver the returns that exceed our customers’ expectations,’ she said.
Mr O’Mahoney, who will also becomes chairman of the audit committee, is the former group financial director for Legis Group and was instrumental in steering the business through its management buyout and subsequent sales.
Mr Tom said he was confident he was leaving the role at the right time.
‘I’ve thoroughly enjoyed my time on the board of the Channel Islands Property Fund and being closely involved in the purchase of some of the islands’ most iconic buildings. I know there are plans for future acquisitions which will require people on the board with both experience and time, and Shelagh, Paul and Brian are the ideal people. This leaves me time to focus on my commitments with Breedon Aggregates and Leicester Tigers and my new challenge as chairman of Jacksons,’ he said.