Channel Islands Co-op has sold the derelict Leale’s Yard in St Sampson, Guernsey, for £4.5m, bringing an end to its long-running plan for a housing development on the site.
The land, owned by the retail society for nearly 30 years, was sold to the States of Guernsey, which earlier this year dropped out of a deal to invest £35m to support CI Coop and developer Omnibus with plans (pictured) to build 338 houses, a multi-storey car park and a supermarket, and improve flood defences.
“After many years of exploring options to unlock the potential of this significant site, I am pleased to let you know that we have reached an agreement for the States of Guernsey to purchase the substantive portion of Leale’s Yard for £4.5m,” CEO Mark Cox told members in a post on the co-op’s website. “Subject to final title checks, we expect the sale to complete in court on 14 August 2025.”
He said that over the past 30 years, “we have worked hard to find a way to progress the site in a way that benefits our members, our business, and the wider Guernsey community. The agreement we have reached will finally allow development of the site to move forward, bringing long-awaited regeneration and much-needed housing to the island.”
The co-op will keep a small part of the site for homes, which it already has permission to build.
Cox added: “This is a positive step that allows us to focus on what we do best: running our stores and serving our members and communities. The funds released from this sale will allow us to invest in enhancing our stores in Guernsey, ensuring we continue to provide a first-rate shopping experience for you, our members. We will also continue to play our part in addressing Guernsey’s housing needs by progressing development on the part of the site we are retaining, where we already have planning permission for new homes.
“A significant agreement such as this does not happen without considerable effort, and I would like to take this opportunity to thank our team for their hard work and commitment in bringing this to completion.
“We are proud to have found a solution that is good for your Coop, good for our members, good for the States of Guernsey, and, in the long run, will be good for the people of Guernsey.”
Investment plans for the co-op going forward include developments at its supermarkets at St Martins and Nocq Road, he said.
The long delays over developing the site have caused some local frustration, with its derelict buildings condemned as an eyesore, and retailers close by told the BBC they were “elated” and “hopeful” at the news of the sale. The States of Guernsey says it wants to start demolition work within 12 months and focus on improving infrastructure, such as roads.
It wants to continue with plans for a mixed commercial and housing development, but says the overall layout may change from the current designs, which already have planning permission.
