Collas Crill’s Guernsey office has helped secure the lease agreement between Premier Inn and Comprop to start the construction and development of the hotel chain’s first property on the island.
Jason Green, partner and head of the firm's Guernsey property team, has been working closely with Comprop, one of the Channel Islands' leading developers, to draft, negotiate and finalise the agreement for lease and the lease.
After many months of negotiations, Comprop, who are the owners of the land at Admiral Park, now have the go-ahead to construct the purpose-built hotel, which will comprise 100 bedrooms. It will be the first hotel to be built in Guernsey for many years.
The hotel will occupy part of the site opposite Waitrose, adjacent to the derelict Sydney Vane House, which is scheduled for demolition.
The project will also include an office building, restaurant and multi-storey car park, due to complete in December 2021.
Jason said: "These are exciting times for Guernsey’s construction industry. The scale of the development is clearly impressive but the deal also signals a major boost for the island’s wider economy, with both Comprop and Premier Inn showing confidence in Guernsey.”
Steve Marie, managing director of Comprop said: "I am delighted that after many years of planning the site can now be developed, including the island's first Premier Inn. Jason Green and his team have done an excellent job in completing the legal work for this complicated site and we now look forward to completing this important project."
Comprop recently completed the construction of the new Havelet Waters residential development at South Esplanade on the site of the former Guernsey Brewery and is now in the process of selling the residential units with the help of Collas Crill.
Earlier this year, Collas Crill's Jersey team headed up by partner, Pamela Doherty, acted for Jersey property and investment development company, Le Masurier, in entering into an Agreement To Lease to bring a second Premier Inn hotel to Jersey, as part of their proposed £70m major redevelopment in the north of St Helier.