Savills moves into Royal Terrace

Savills is moving into flagship premises in St Peter Port after Mourant assisted in negotiating a long lease for the Guernsey branch of the property business.

Savills has operated from two sites since acquiring competing property agents, Martel Maides, in 2018 and the move to Royal Terrace will bring together the commercial and residential arms of the business under one roof.

A change of use was agreed for the former Urban Kitchen eaterie last year. It covers 456 square metres of prime real estate near a number of the island's largest private offices.

Since August 2020, shortly after the planning application was submitted, Mourant has been representing Savills in its negotiations with the landlord and guarantor.

Associate Laura Bougourd, supported by the Mourant Guernsey Commercial Real Estate team, worked on the deal which led to a lease with a rental term of 15 years. She said:

"Savills is one of the leading commercial and residential property agents in Guernsey and we're delighted they chose us to represent them in taking their lease of new premises."

Laura was supported in the lease negotiations by Senior Associate Alison Wood, and Guernsey Managing Partner John Lewis said the negotiations proved to be complex but reached a positive conclusion for all parties.

"Laura and Alison had to navigate complex negotiations in getting this deal agreed with a Lease and an Agreement for Works signed off at the same time.

"Mourant were able to add value by conducting these negotiations professionally and in a timely manner to reach a successful conclusion for our client."