Channel Islands Property Fund acquires Mourant HQ

Tuesday 13 October 2020

The Channel Islands Property Fund has purchased Mourant's Jersey headquarters for an undisclosed sum.

The 48,970sqft office space at 18-22 Grenville Street is the second acquisition in two months for CIPF.

Chair Shelagh Mason said: “Our last Jersey acquisition was Liberation and Windward Houses in 2016 and so we have actively been looking for other properties in the island, which will balance the portfolio and complement the holdings we already have across Guernsey, Jersey and the Isle of Man.

“18–22 Grenville Street is a fantastic addition, based on the building’s specification, the length of the lease and the strength of the tenant and we are very pleased to have been able to rebalance our portfolio across the islands."

She added: “We know there has been an increase in outside interest in Grade A commercial property within the Channel Islands, which may be a result of the way our governments have successfully handled the covid pandemic. 

“It’s therefore particularly pleasing for the board that in the last two months, the fund has made two acquisitions which we believe protect and enhance shareholder dividends.”