Page last updated at 18:12 GMT, Tuesday, 24 March 2009

Post office sell-off faces delay

Plans to sell a States-owned former post office in Guernsey may be delayed until the property market picks up.

Nelson Place in St Peter Port was bought by the States in 1969 when it took responsibility for the island's postal services from the UK Government.

The Treasury and Resources Department was hoping to sell it for about £3.25m.

The department said it acknowledged the commercial market was going through a difficult period, but added it was keen the sale went ahead at some time.

The department is selling the property as part of an ongoing project to get rid of assets the States no longer needs.

Money from the sale of the listed building will go towards the States' capital spending projects.

The States property portfolio is currently worth about £1bn.

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