Mourant represents The Channel Islands Co-Operative Society on significant Guernsey property transaction
18 July 2025
Our Guernsey Commercial Property team has advised The Channel Islands Co-Operative Society Limited (Channel Islands Co-op) in relation to the signing of Conditions of Sale for the sale of the majority of the Leale's Yard site to the States of Guernsey.
The £4.5 million transaction is currently subject to final title checks, and is expected to complete on 14 August 2025.
The sale will enable the States of Guernsey to move ahead with the development of over 800 homes in the St Sampson, Vale and Bridge areas of Guernsey, providing much-needed first-time buyer, social and affordable housing, together with associated infrastructure, community and employment opportunities for local residents.
As part of the agreement, Channel Islands Co-op will also retain part of the site, which it plans to develop for housing. Both parties are committed to progressing their schemes.
The Mourant team working on this deal includes Partner Helen Wyatt, and Senior Associates Laura Bougourd and Alison Wood.
Commenting on the transaction, Helen said:
"We have been advising Channel Islands Co-op in relation to various aspects of Leale's Yard for many years and are delighted to be playing a part in helping them now reach a successful conclusion. This solution is a positive step for Co-op members, and in the long-term will provide local Guernsey residents with vital and much-needed housing options."
This significant transaction follows our Property team's involvement in the sale of an office in Jersey in a deal worth £12.5 million – the largest office transaction to complete in the Channel Islands last year.
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About Mourant
Mourant is a law firm-led, professional services business with over 60 years' experience in the financial services sector. We advise on the laws of the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Luxembourg and provide specialist entity management, governance, regulatory and consulting services.
