Collas Crill has acted as Guernsey and Jersey counsel to The Royal Bank of Scotland International Limited, trading as NatWest International, in relation to the bank's provision of £45,000,000 of term and revolving credit facilities to Blue Diamond Limited. The facilities are being provided to assist with the purchase of 8 of the largest Wyevale Garden Centres across various locations in the UK. The garden centres are being purchased from Guernsey-based Guy Hands' Terra Firma for £34.25m plus stock.
Collas Crill's Guernsey Banking team (Sean Cheong & Alex Wickens) prepared and negotiated the primary finance documents and advised the bank generally in respect of the transaction which involved security in the UK, Guernsey and Jersey.
Collas Crill's then UK Real Estate team (Michael Morris & Donald Millar) advised the Bank on the property and security aspects of the transaction. They also advised the bank generally in respect of the acquisition of the garden centres.
The firm's Guernsey Property team (Jason Green & Paul Nettleship) and Jersey Property team (Martin Le Boutillier) rounded out the bank's security package by overseeing the preparation and registration of Jersey and Guernsey security over certain group properties in favour of the bank.
Blue Diamond traces its origins back to 1904 when it was the Fruit Export Company operating from and out of Guernsey. Blue Diamond continues to be owned and managed locally, and will have a portfolio of 29 garden centres across the UK and the Channel Islands following the completion of the purchase.
Natwest International has been established in Guernsey for over 190 years, and operates across six jurisdictions under four brands.
Other firms involved in this transaction include Bristows LLP and Carey Olsen LLP as Blue Diamond's English, Guernsey and Jersey counsel. Addleshaw Goddard LLP acted for the seller.