This Is Guernsey

THE sale of the former post office in Smith Street could raise more than £3m. for public funds.

Martel Maides, which has been appointed by the States to sell Nelson Place, has valued the historic property at around £3.25m.

The company has begun marketing the building following the relocation of Guernsey Post’s main Town branch to the former Oil & Vinegar store across the street.

The estate agent’s commercial director Nick Renny (pictured) said the sale would give Nelson Place a new lease of life.

Although the building’s historic frontage is listed, the eventual buyer is likely to refurbish and modernise the property to create prime retail space or offices.

‘I think most islanders are familiar with the frontage and the main hall but the building actually stretches right back to Forest Lane, so there’s a lot the public doesn’t currently see,’ he said. ‘There is a lot of scope for redevelopment, although as with any building of such historical importance there are features that will have to be retained.

‘This presents a real opportunity for an imaginative developer to create something that has period character but with a modern, more functional use.’

Nelson Place dates back to 1883, shortly after Smith Street was widened and several of the current buildings were constructed.

It was built to house the main Town post office and was acquired by the States in 1969 when it assumed responsibility for the island’s postal services from the UK Government.

Martel Maides is marketing the building to investors and developers both locally and outside the island.

Money raised from its sale, which is part of Treasury and Resources’ property portfolio rationalisation, will be used to fund capital projects.

Article posted on 3rd November, 2008 - 1.00pm