This Is Guernsey

By Nick Mann

The Sunday Times reported the news of Herm leaseholders the Heyworths’ decision to sell up. (0581590)

INTEREST has been strong in the lease for Herm. Adrian and Pennie Heyworth told the 50 residents on Friday that they were selling up.

Since then, estate agents have been busy dealing with enquiries for the lease, which has a guide price of £15m. Local agent Martel Maides has received 20 expressions of interest, most of which are from the Channel Islands.

Mr Heyworth said it had been an emotional time.

‘Having got it on the market, we’re determined to find the right person, to find someone acceptable to all parties,’ he said. ‘I understand from our agents that there has been a considerable response.’

The guide price was based on the Heyworths’ wish to recover some of the money they had invested in Herm over the years.

About 11,000sq metres of buildings have been renovated and, at current building costs, that far exceeds the price, said Mr Heyworth.

‘It’s an exciting thing for someone to take on, an up-and-running business with the best team in place to run it,’ said Mrs Heyworth.

There has been local speculation that the owners of nearby Brecqhou might be interested in the island.

However, a spokesman for Sir David Barclay said yesterday that he had not even considered Herm and did not think it helpful to make any comment.

The 40-year lease includes a manor house, a 13th century chapel, 80 acres of farmland complete with a dairy herd and what is thought to be the world’s smallest prison.

About half a dozen of the enquiries have come from the UK and a few from Europe.

One potential UK-based purchaser has even flown over the island in their private helicopter.

‘I think the early interest is encouraging, but the eventual buyer could well be someone who has not yet declared an interest,’ said Martel Maides director Nick Renny.

‘We still have a lot of marketing planned over the coming months. As sole agent we will be working very closely with our London partners, Knight Frank, to ensure that we achieve the best result both for our clients and for the States of Guernsey.’

For the deal to go through, the Heyworths will make a recommendation to the Treasury and Resources Department, which is responsible for the island.

‘The lease can only be assigned with our consent and also that of the Lt-Governor,’ said Treasury minister Charles Parkinson.

‘Our role is to consider any prospective candidates and approve its assignment or not,’

A decision will be taken in the next week or two whether the deal should be taken to the States.

‘We’re busy developing the criteria by which we will appraise any proposed assignment.

‘That hasn’t happened before, so we don’t have a stock set of terms, but clearly we will be looking for someone who will manage the island for the benefit of Guernsey residents and the tourist industry.’

The criteria will include the guiding principles of the original lease ‘to ensure that the natural attractions and peacefulness of the island are preserved and made available to all who visit it and to develop the island to cater for the needs of tourism’.

The leaseholder is responsible for all maintenance and repair in Herm and pays an annual rent to Guernsey.

The States last debated the issue in 1987 when it was set at £18,000 a year. Rent was reviewed every seven years based on RPI over that time.

A rent review was held earlier this year, but Treasury declined to release the details yesterday, saying it was a decision for the Heyworths.