Sark needs a masterplan backed up with investment

About Us

The Sark Property Company Limited is currently a subsidiary of Sarnia Asset Management Limited in Guernsey, which in turn is licensed by the Guernsey Financial Services Commission. Longer-term, the Sark Property Company will be run independently and in collaboration with several key partners. Medium to longer-term, it could be listed on a recognised stock exchange. 

Working with Sarnia Asset Management, our company has mobilised potential investment to purchase circa £100m of real estate on Sark. We can (and will) engage with any potential vendor of property on Sark. We also have the wherewithal to commit to follow-on investment, including for real estate development and for acquiring or funding local businesses.

Having engaged The Prince's Foundation to carry out an initial sustainability assessment, we are looking to facilitate the creation of a master plan that the community agrees with, and which our company will use as our basis for our development plans.

We believe that Sark needs a 50-year island development plan to secure its future and improve the lives of its residents. Our plan is to build a company that has the financial resources and the expertise to carry out multi-generational investments in Sark.

Following an initial two-year period of desktop studies and investing significant time and money in preliminary work, our company is now working towards the following schedule:

  • Phase 1: Initial 12-36 months for planning.

  • Phase 2: Initial 20 years for investment (phased construction).

  • Phase 3: Operating in perpetuity. 

Along the way, we will ensure that we are transparent, and that key stakeholders agree with the concept. We reserve the right to wind down our operation if we do not feel there is sufficient stakeholder buy-in.

To advance these plans, we will be hosting a series of meetings on the island over the coming months, and doing a range of outreach work and including media relations locally and further afield.

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Sark's future

As a group that is passionate about the future of Sark, we believe strongly that the island needs a long-term master plan backed up with investment. To this end, we are evaluating investment opportunities in the island. We believe that Sark has incredible potential to be a vibrant and unique place to live and work, but there are significant complexities around any investment in its future.

Does Sark need investment at all?

In a BBC Radio Guernsey interview on 25 April 2023 following the consultation of a large number of residents, Ben Bolgar, Senior Director of The Prince's Foundation, said:

"… that is a common theme, almost everybody thinks that more investments in infrastructure, solving housing issues is a good thing, that is a consensus."  

Carefully planned investment in the island can benefit the community in ways such as: 

·      More shops, cafés, restaurants, bars, and other businesses to serve the community; including during the off-season. 

·      More affordable housing for different income groups, and facilities to match.

·      Lower electricity costs and ‘green’ energy from wind, solar or tidal power. 

·      Lower prices for other day-to-day services, through improved economies of scale.

·      Enhanced port and marina facilities, with better transport options. 

·      Ability to get onto the housing ladder using SPC-backed mortgages.

·      More career opportunities for young people.

·      Removal of the current doubts about the future of the island. This will attract investment and permanent residents to contribute to the island’s community, both financially and culturally.

The Sark Property Company will continue to consult with anyone who has a stake in the transformation of Sark. Any change that we are a part of will be sustainable and based on the needs of the community, and maintaining Sark’s character is absolutely essential.

For more information, you can also download our presentation to the Sark Chamber of Commerce (12 May 2023) or check our extensive media library.

Media enquiries: Dan Gallienne, Orchard
+44 1481 251251
dan@orchardpr.com