Nationals’ £60m. quoted bid for Barclays’ Sark estate ‘speculative’
The Sark Property Company has said a figure of £60m. quoted in national newspapers as a bid for the Sark estate of the Barclays family is speculative rather than accurate.
But Sark Seigneur Christopher Beaumont, who runs the investment company alongside German financier Swen Lorenz, said that the national coverage in UK newspapers over the weekend was broadly reflective of what the two men wanted to achieve in a bid to buy property, spruce up Sark, and reinvigorate the island.
They were featured in major interviews in the Financial Times and the Sunday Times magazine.
‘But it did make some assumptions on details which are yet to be finalised, such as the amount we will bid for the estate,’ said Mr Beaumont.
‘The core aim of our plan is build a sustainable and more positive future for the Sark community.’
The Barclays’ estate comprises 20% of the island’s surface area, including more than 80 residential properties, five hotels, and 19 commercial properties.
The £60m. figure was referenced in a five-page article in the Sunday Times magazine, while the FT reported that the company was looking to raise an initial £25-35m. to buy the land and property.
‘We’re pleased that our intention to rejuvenate Sark through investment and meaningful community projects is gaining national attention,’ said Mr Beaumont. ‘We look forward to finalising our intention to bid for the Barclay estate in the coming weeks.’
Mr Lorenz said the company has assembled a ‘dream team of prospective partners and employees’, primarily from Sark and Guernsey, and had earmarked a £15m. investment for the first phase of their plan.
‘We will re-open another hotel, apply to open a wild spa, refurbish decaying housing – to name just some of our plans,’ he said.
‘Naturally, there is no guarantee our bid will be accepted. There is also a small remaining chance that during the next weeks, our final-final analysis leads us to not making a bid after all.’
Any property deal would not include the island of Brecqhou where David Barclay and his brother Frederick built a private residence in 1993.
During the next decade the brothers invested heavily in Sark but started to close their properties after a falling out with the Sark’s establishment following open elections in 2008.
