Barclay estate: £20m bid 'a fraction of its value'

Sark Developments Limited bosses said cottages opposite the Dixcart Hotel would be reopening

The man who runs the Barclay estate in Sark has said a recent £20m bid for the properties represented "a fraction" of the value of the estate.

CEO of Sark Developments Limited Kevin Delaney commended the directors of the Sark Property Company for the money they raised for the bid.

However, he said: "Perhaps, in their heart of hearts, Christopher Beaumont and Swen Lorenz, understood that they weren't really in the swim with such a low offer".

The BBC revealed in October the £20m bid for the estate had been rejected and, in late November, the Sark Property Company announced it would not be returning with a new bid.

Mr Delaney added: "£20m is representative of only a fraction of the value of an estate that runs to 23% of the entire island, some 250 acres in total and encompasses several hotels, public houses, restaurants, retail outlets, some 80 residential properties and a range of development sites."

The directors of the Sark Property Company said they would not be commenting further.

Mr Delaney said that, while he was not actively looking for a buyer for the estate, he admitted "everything has a price".

He pointed out that The Avenue - Sark's high street - would be almost fully occupied next year.

He said: "The estate is organically growing now. We're opening some of the cottages opposite the Dixcart Hotel."

The four hotels owned by the Barclay estate were closed in 2014.

In recent years, gradually some of the hotels and restaurants owned by the Barclay estate have re-opened, including the Moinerie, Dixcart Hotel and Time and Tide on The Avenue.

Mr Delaney has said The Avenue will be almost entirely open next year

Looking ahead to the next tourist season in Sark, Mr Delaney said the island was "on the up".

He added that the directors of the Sark Property Company "deserved credit" for their efforts raising money to attempt to purchase the estate.

"They have done much to promote a positive image of Sark on both the national and international stage.

"Their success in attracting The Prince's Foundation to Sark in 2023 to engage with islanders showed the immense value of public consultation, something that Chief Pleas would do well to take note of and learn from.

"In June of this year, I was quoted in The Financial Times as saying that I found Christopher and Swen honourable, honest and personable.

"Nothing they have done in their attempts to acquire the estate has given me cause to change this opinion."