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Tens of millions spent on property deals last week

by isleofman.com 7th March 2012



It was a massive week for property sales in the Isle of Man last week.

Three office buildings changed hands for a total of ?35 million.

Pokerstars bought Skandia House on Onchan Head - also known as the Douglas Bay Complex - where they've been based since starting up on the Island.

A local company which is part of the Finch Road-based Knox Group also purchased the HSBC Headquarters on Victoria Street and the Standard Bank Headquarters on the corner of Circular Road in a separate deal.

All of the deals were handled by Black Grace Cowley.

Commercial Director Mark Grace says all three properties had been under negotiation for a number of months but it was quite a week to get the sales over the line within a few days of each other.

He believes the purchase of Skandia House by Pokerstars is the largest sale ever of a single office building in the Isle of Man . . . . and describes it as a welcome boost for the Island's property market.

Posted by isleofman.com
Wednesday 7th, March 2012 07:21pm.

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