Investments

Polygon Properties expands its Jersey commercial property portfolio

Polygon Properties Limited, a wholly owned subsidiary of Polygon Group Limited, has purchased 5 Anley Street in St Helier, Jersey, a strategic acquisition to add to the group’s Jersey property portfolio.

The property comprises 9,500 square feet of purpose built office accommodation and is located in a prime location near the heart of St Helier’s growing International Finance Centre. The building is fully tenanted.

This is the third commercial property purchased by Polygon Properties in recent years, the other two being Forum block 3 and Forum block 4 in Grenville Street, St Helier. The group also owns a number of commercial and residential properties in Guernsey.

Polygon Properties was advised on the acquisition by Carey Olsen and the financial structuring was supported by ABN AMRO.

Alex Belcher, Director of Polygon Properties, commented:
“We are very excited to add this asset to our Channel Islands portfolio. The property provides excellent office accommodation in a prime location, and the acquisition fits in perfectly with our current investment strategy.”

(Photo L-R: Chris Philpott (Carey Olsen) & Alex Belcher (Polygon Properties))

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Polygon Purchases Forum 4

Polygon Properties Limited, part of the Polygon Group, has purchased Forum 4, Grenville Street, Jersey – a strategic acquisition for the company’s Jersey property portfolio.

The property is a prominent Grade A office building in central St Helier originally built in the mid 1980’s and fully refurbished in 2012. The building’s tenants include J.P. Morgan, HLB Jackson Fox and Perdurance Asset Management.

The purchase follows Polygon’s acquisition in 2013 of neighbouring Forum 3 (F3) which was the group’s first Jersey commercial property investment and is now the centre for Digital Jersey and technology-themed serviced offices.

Carey Olsen’s property team, led by partner and head of property Chris Philpott, advised on all aspects of the purchase. Mr Philpott said: “Polygon ‘s latest purchase, hot on the heels of its recent acquisition of the neighbouring F3, is testament to the positive investment climate we are seeing in Jersey and the continued appeal of Jersey commercial property to investors.”

Polygon’s Alex Belcher said: “We are very excited about our recent purchase. It will allow us to accelerate the tech sector in Jersey and revitalise the Grenville Street area of town.”

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Polygon purchases Block 3, The Forum, St Helier, Jersey

Polygon has made its first Jersey property investment in buying Block 3 of the Forum in St Helier. This 5 floor office block will be the new premises for another Polygon Group company, Vantage Limited, and will be upgraded for the current tenants and prospective new ones.

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Polygon Group forms the first protected cell captive insurance company in Jersey

Black Pearl Insurance 1 PC will act as a captive insurance company to insure some of Polygon’s professional liability risks, including professional indemnity and directors’ and officers’ risks. This is the first cell of an insurance protected cell company to be awarded regulatory approval from the Jersey Financial Services Commission (JFSC). The captive is a cell of Polygon Group’s protected cell company Black Pearl Insurance (Jersey) PCC.   It will be managed by Vantage Limited, who will also offer cells in the PCC to its clients.

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Le Marchant Holdings Limited has changed its name to Polygon Properties Limited in order to reflect the link to Polygon.

Le Marchant Holdings initially owned 2 properties on Le Marchant Street. Now that it holds 3 further investments and is looking to further opportunities, the decision was made in August 2013 to change the companies name to align it to its parent. In addition, a new Jersey-domiciled company called Polygon Properties Limited has been setup and is owned by the Guernsey Polygon Properties Limited.

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Board changes

Polygon Group Limited and Polygon Investments ICC Limited add further financial and property expertise to their Boards.

Polygon Group and Polygon Investments ICC have further enhanced their Board of Directors with the appointment of 3 executive Directors and one non-executive Director. Amanda Groves, currently Director on Polygon Investments ICC has been promoted to the Polygon Group Board. Michelle Robilliard FCCA and Camilla Starr ACA are both qualified accountants actively assisting underlyling investment companies and the Group with financial management and direction. Michelle, currently Group Finance Director and Finance Director of Vantage Ltd, has been appointed to both Polygon Group and Polygon Investments ICC and Camilla, currently Finance Director of Adding 1 Ltd. has been appointed to the Board of Polygon Investments ICC. They were appointed in October 2012.

Charles McHugh MBA MCMI brings his considerable skill in property development and management to assist with the management and expansion of the Polygon property portfolio. Charles, appointed to the Polygon Group Board in July 2013, is currently active in the Guernsey property development market via his company Strategic Development Partnership.

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Law At Work Channel Islands CI boosts its Board

Business support company Law At Work (“LAW”) have made an appointment to their Board of Directors.
Ed Daubeney has more than 20 years’ experience in human resources, which started with the Ford Motor Company and Le Riche Group.
He is currently a regional investment director for Envestors Limited, which assists companies looking to raise equity finance from private investors.
Mr Daubeney was previously Managing Director of Cl Hospitality, where he led the business through major change prior to its ultimate acquisition by the Liberation Group in 2008.
LAW’s Managing Director Kelly Flageul said:
‘Ed’s appointment is a real boost to our board. He brings with him a wealth of experience in human resources and employee relations in Guernsey and Jersey, and he will prove a tremendous asset to the company.
‘He has an excellent track record in managing change, and specialist expertise in working for large, complex and diverse group of businesses, which means he’s perfectly placed to assist our expansion strategy.’

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Polygon Group Limited and Polygon Investments ICC Limited adds further commercial and strategic expertise to its Board

Polygon Group Limited is pleased to announce the appointment to its Board of Directors of Ed Daubeney and Amanda Groves. Ed, as a non-executive Director, brings his considerable skill and experience in management and private equity style investment to assist Polygon in the expansion and management of its investment portfolio. He is currently a regional investment Director for Envestors Limited, which assists companies to raise equity finance from sophisticated private investors. He is also a non-Executive Director of one of Polygon’s investments, Law At Work (Channel Islands) Limited. Amanda’s promotion to Director brings a wealth of experience in administration, marketing and strategy to the Board.

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