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.’