Entrepreneur may pull plug on open market buy-to-let

AN ENTREPRENEUR is considering giving up a £100,000 deposit on a Guernsey house because of uncertainty over what will happen to the open market.

PR company owner Gordon Beattie (pictured) said he was planning to buy properties in Guernsey, improve them and rent them out to executives. But he is now rethinking his plan.

'Unfortunately, I may be forced to cancel my investment plans because of fears that the States review for managing Guernsey's population could result in restrictions being imposed on who can live in open market homes,' said Mr Beattie.

'I have already paid a 10% deposit on a house in St Martin's but it may be better to lose that than find I have bought a house which I can't rent out in the future.'

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