The road was closed on Sunday evening from 8.30pm until just after 9pm while police undertook initial enquiries into what had happened.
Police confirmed that they had arrested a man yesterday and that an investigation into the incident was now ongoing.
‘This morning Guernsey Police arrested a 34-year-old man on suspicion of dangerous driving, following an incident on St George’s Esplanade on the evening of Sunday 1 February.
‘The man is believed to have hit three parked vehicles while driving another vehicle, causing significant damage.
‘He is then believed to have left the scene of the accident.’
The damaged cars were still parked along the road on Monday morning.
A red Renault took the brunt of the damage, but a large white van was also significantly damaged and pushed into another van parked alongside, causing slight damage to the second vehicle.
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