Ogier has advised the real estate development-focused RED fund on its purchase of the 36-bedroom L’Erée Bay Hotel and grounds from Randalls Brewery.
The fund, a closed-ended Guernsey domiciled company with a board of four directors, was established in 2018 and focuses on commercial and residential property development opportunities in the Channel Islands. In December 2018, it made its first acquisition of three Grade A office properties in Jersey, on which Ogier also advised.
Chairman Andrew Haining said: "The fund brings together a small group of investors who either live in the Channel Islands or have close local links and want to identify, realise and maximise development opportunities."
He said the RED fund board and its advisers would be looking at how the L’Erée Bay Hotel site could be redeveloped but for now it was business as usual for the hotel and restaurant's customers.