Black Grace Cowley are pleased to announce the completion of £35m of investment sales in a week.
In a significant week for Manx Property, Pokerstars completed the sales of The Douglas Bay Complex (Skandia House) on Onchan Head, and a local company, part of hte Knox Group of Finch Road, purchased the HSBC Headquarters on Victoria Street, and the Standard Bank Headquarters at the corner of Circular Road, in a seperate deal.
Mark Grace of Agents Black Grace Cowley, who handled the sales, commented:
"All three properties have been under negotiation for a number of months, however, it's been quite a week to get all three of these substantial sales over the line within a few days of each other. The Douglas Bay Complex is, I beleive, the largest sale ever of a single office building on the Island, and both the HSBC and Standard Bank buildings represent extremely prominent and important office buildings in the centre of Douglas. The three sales are certainly a welcome boost to the local property market, and show welcome confidence from both Investors and Occupiers in the future of both the business sector and property on the Island. Hopefully they may also provide a catalyst to jolt activity in other sectors of the market, particularly the residential side which, over recent weeks, has started to show some signs of renewed activity."
