Summer tourism is the tiny island's main source of income
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Herm Island will be kept as the "jewel in the Bailiwick's crown", the island's new owners have pledged.
A charitable trust, led by Guernsey residents John and Julia Singer, will take over from Adrian and Pennie Heyworth at the end of the season.
The 40-year lease on Herm was agreed by the States of Guernsey for an undisclosed sum - believed to be less than the estimated guide price of £15m.
The Singers said they fell in love with Herm when they met there 14 years ago.
The lease was bought by Starboard Settlement, a trust that provides financial support for charities in the developing world.
'Absolute gem'
Mr and Mrs Singer told BBC News the trust had not bought the lease to make a profit.
"We won't be making any changes to the island as it's presently enjoyed by everybody," Mr Singer said.
The couple said the trust's aim was to maintain the island's current standards of excellence for visitors.
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When I get there I'll be picking Penny's brain
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The tiny Channel Island, which is about 1.5 miles long and less than half a mile wide, is only accessible by boat and relies on a summer tourism business as its main source of income.
It has 50 inhabitants - swelled by 80 staff during the holiday season.
Herm is part of the Bailiwick of Guernsey and has been a British Crown Dependency since 1204.
Mr and Mrs Heyworth announced in May they were giving up the island's lease after 28 years as none of their children wanted to take over the remaining years.
Mrs Heyworth, who was born on Herm, said the island was " an absolute gem" .
Mrs Singer said the current owners would be a mine of information.
"Penny and Adrian are full of advice and when I get there I'll be picking Penny's brain," she said.
"We're just going to keep it the same - it will be for everyone."
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