Nick Renny, commercial director of Martel Maides, far left, conducts the auction of the Fort George property yesterday which saw about 200 people attend. (Picture by Adrian Miller, 0592385)
BELVEDERE House has been sold under the hammer for £5m.
An auction to sell off the famous States property attracted around 200 people yesterday afternoon and saw four interested bidders push up the price to the reserve level.
If that price had not been met, the States could have abandoned the sale there and then. It is not yet known who the buyer is, but it is believed they intend to make it their family home.
Stephen Homer, an associate director of Jones and Partners, made the successful bid on behalf of a client who instructed him by mobile phone. Mr Homer has so far remained tight-lipped about the identity of the purchaser.
Treasury and Resources minister Charles Parkinson said the auction had been a success and that he was happy with the outcome.
‘It meets our reserve and we think the money will be put to better use for the general public elsewhere.’
Deputy Parkinson said it was quite possible that further auctions would follow for the sale of other States assets.
‘Auctions are the most transparent means of disposing of properties,’ he said.
‘We have a rationalisation programme and we are reviewing all the States assets and decide upon which ones we can dispose of.
‘There will be further developments on that in the autumn.’
The States windfall will now go towards completing major capital projects such as the new schools or even the airport runway.
Martel Maides auctioneer Nick Renny orchestrated yesterday’s bidding and said Belvedere House was unique.
‘There is no other house remotely like this in Guernsey.’
He admitted bidding had been slow but that the final offer had got to where they wanted to in the end.
‘It went very well – we had enough genuine bidders and interested purchasers.
‘They bid slowly, but when you are bidding more than £4m. I would expect most people to bid slowly.
‘It was pretty much bang-on what I was expecting and in our office sweepstake I put just fractionally more than that.’
The sale had been conducted throughout by Swoffers, and director Matthew Henry said that attracting a bid of £5m. showed that the guide price of the same amount was fairly accurate.
The 7,000sq. ft historic house boasts stunning cliff-top views but a relatively small amount of land – 1.9 acres – for a house worth £5m.
Mr Henry added: ‘1.9 acres is still a large area and you have to remember you are buying one of the Channel Island’s most prestigious properties.
‘Once the new owners put their stamp on it, it will be an amazing property and I think they will be delighted.’
* The purchaser yesterday had to pay 10% of the sale price as part of the conditions of sale, with a completion date of 10 July.
In that time, he or she will also be subject to police checks under money-laundering guidelines and, if the States is not satisfied after these, T&R still has the ability to pull out of the sale.
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