BEFORE Sandpiper’s £260m. takeover of CI Traders, Tom Scott had to guarantee to purchase certain properties. ‘It was agreed from the start that Sandpiper, who are venture capitalists, did not want the properties that were being developed,’ he said yesterday.

‘It was agreed at the very early stages that I would buy them off them. I bought all the development properties in Guernsey and Jersey.’

It meant he could not chair meetings because he was part of both sides.

‘We could not sell to the company – we just formed a new company,’ he said.

‘I have been so busy with transactions. I’m having to sort out so many things.

‘I’m sure when we have finished there will be some properties I’m delighted with and some I wish I had never taken on.’

As well as the purchase of several pubs, restaurants and hotels, he has been involved in buying several properties and areas of land belonging to ComProp Guernsey Ltd.

These include the Guernsey Brewery site at South Esplanade for £1,835,400, Sydney Vane House at Les Banques for £2,640,000, Nelson House in Le Bouet ‘the former B&Q’ for £4,048,000, building and land at Les Banques for £552,000, an area at Les Banques that is part of Admiral Park for £6,624,000 and two fields in Mont Arrive for £92,000.

‘It’s about the same holding as I had in the group before as a personal shareholder – I have probably got 17%.

‘I have been involved in the building of Admiral Park from the first stage and I’m very proud and we will continue with our plans there,’ said Mr Scott.

‘It’s all part of the jigsaw and putting each piece into place. It’s a package.’

He has also bought property and land from Bucktrout & Co Ltd – offices, a flat and warehouse ‘the former Guppy’s’ at Glategny Esplanade for £1,725,000 and an industrial unit at Braye Road Industrial Estate for £414,000.

In the conveyancing court in totally unrelated property transactions Citriche Ltd sold several properties to Sandpiper – these include Cobo Checkers Xpress for £4,218,000, St Peter’s Checkers Xpress for £6,150,300 and the Lloyd building in Pitronnerie Road for £1,980,000.

Sandpiper CI also bought The Guernsey Tobacco Factory at La Ramee from the Guernsey Tobacco Company Ltd for £1,660,000.

‘They were all linked to the acquisition and considered as part of the takeover,’ said Sandpipier chief executive Tony O’Neill, who confirmed the detail had been presented in the offer document.

‘That is part of the reorganisation.’