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Historic week for Manx property market

The Douglas Bay complex serves both Skandia and new owner Pokerstars

Estates agent Black Grace Cowley has confirmed the staggering amount for three major property sales in the Isle of Man this week.

Pokerstars’ purchase of the Douglas Bay complex and the Knox Group’s acquisition of the HSBC and Standard Bank headquarters in Douglas collectively came in at £35million.

BGC confirmed that negotiations for all three properties have been ongoing for many months and it was a titanic effort to ensure these all went through within just days of each other.

The Douglas Bay site is the largest single office building ever seen in the Isle of Man.

Mark Grace of Black Grace Cowley said this is a major moment for the Manx property market and provides a much confidence to both investors and occupiers.

He added that this could prove to e a catalyst to jolt activity in other sectors of the markets, particularly in the residential side, which has shown signs of growing over recent weeks.

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