Collas Crill's Guernsey Property and UK Real Estate teams have advised on multiple elements of the acquisition of Island Bowl.
Collaboration between the teams led by Partners Jason Green and Michael Morris, with assistance from Theo Hannah, saw the deal which was structured and transacted in Guernsey, complete on 12 March. Collas Crill advised on both the Guernsey property aspects of the transaction and also the English law security.
The team, ranked in the top tier of legal directories, worked with Scott Philpott of Investec Bank (Channel Islands) Corporate & Family Office in financing the acquisition of the property. It comprises an 18 lane bowling alley, restaurants, cafes, bars, retail units, and residential accommodation. The borrower is said to have exciting plans in the pipeline for redevelopment.
Jason Green commented: 'The closing of this deal again evidences Collas Crill's sound ability to work across departments to bring the right result for our client, first time, every time.
'Going forwards, from a local Guernsey perspective it will be great to see a landmark site being redeveloped, and the prosperous results that will have on the economy.'