SandpiperCI, the leading independent retail operator in the Channel Islands, which is majority owned by Duke Street and Europa Capital, has announced that contracts have been exchanged for the sale of St Pierre Park Hotel, Guernsey to Hand Picked Hotels.
Julia Hands, who formed Hand Picked Hotels in 2001 from a collection of hotels purchased with her husband, financier Guy Hands, said: “St Pierre Park will be our second resort hotel alongside L’Horizon in Jersey. The hotel is a great family destination and an excellent place for leisure breaks, weddings and business meetings and conferences. Guernsey is a beautiful island with good beaches, watersports, and excellent local produce. We look forward to attracting guests from the UK and elsewhere in Europe and further afield.”
Sandpiper CEO, Tony O’Neill commented: “This sale will represent another significant step in streamlining our organisation, allowing us to continue focusing on developing our retail and franchise businesses. The move is consistent with the strategy we laid out when we first acquired the old CI Traders business back in 2007. We are delighted with the hotel’s current performance and are particularly proud of its staff who have rightly earned a reputation for delivering outstanding customer service. We wish Managing Director, Dina Le Lacheur and her talented team all the best for the future under Hand Picked’s ownership.”
Duke Street and Europa Capital, the European real estate investment management group, acquired SandpiperCI in July 2007. They have worked closely with management to grow the business through a strategy of streamlining assets and improving both customer service and choice. Since 2007, the business has invested significantly in both its large and small format retail offering and has made a number of disposals including interests in pubs, soft drinks, supermarkets and property.
The deal is subject to the approval of the Guernsey Competition Regulatory Authority. Financial details of the transaction have not been disclosed.
For further information please contact:
Gordon Simpson/Charlotte Whitley, RLM Finsbury: +44 20 7251 3801
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital’s Principals have collectively raised 7 real estate funds and committed to over 75 transactions totalling some €7.0 billion across 18 European countries.The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Further information can be found at www.europacapital.com.
Europa Capital is a member of The Rockefeller Group (“RGI”). RGI is a strategic investor alongside Management.
Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.