Page last updated at 15:46 GMT, Thursday, 12 June 2008 16:46 UK

States building sale raises 5m

Belvedere House
Belvedere House is known for its views of St Peter Port and the Little Russel

Guernsey's States has raised 5m by selling one of its landmark properties.

Belvedere House in Fort George was sold at a public auction. At least 100 people turned out to see the auction open with a starting price of 4m.

The reserve price of 5m was only just met as the building was sold to a representative of a local surveyors' company on behalf of a mystery client.

Money generated from the sale will be reinvested in essential buildings, such as hospitals or schools.

The building is known for its views of St Peter Port and the Little Russel waterway between Guernsey and Herm.

The decision to sell the property was made last year as the States felt it no longer had a use for the building.

10m expected from States sales
04 Mar 08 |  Guernsey
Deputies told of properties delay
01 Dec 07 |  Guernsey
Deputy in bid to halt fort sale
22 Nov 07 |  Guernsey
Warning against building sell-off
01 Feb 06 |  Guernsey

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