Sark Property Company launches Series A fundraising

Our followers will soon learn details about a truly unique special situation – that of investing in real estate in Sark, one of the Channel Islands.

You will have never seen anything like it before…

The Sark Property Company was incubated by Sarnia Asset Management, and it is now gearing up for a £35m Series A funding round.

The Financial Times reported about it recently – featuring our company in a cover page story.

This investment entity has been formed to purchase a real estate portfolio on Sark, principally the estate of the late Sir David Barclay. In case you didn’t know yet, Sark is an independently governed jurisdiction responsible for its own laws and taxes – and one of the smallest independently governed states in the world. Average tax payable per resident is £3,000 p.a. With a population of just 600, it has its own Parliament and a hereditary Head of State. Legally, Sark has the same level of independence as Guernsey, Jersey and the Isle of Man.

At present, property values on Sark are only approximately 30-50% those of Guernsey, and only on par with properties in London’s Zone 3.

We have assembled a team of mostly island-based employees and partners to reconstitute the portfolio based on principles of good estate management, investing in improvements, and introducing a modest amount of leverage. This investment is to be undertaken with the highest regard for protecting what makes Sark special.

Longer-term, Sark could become one of the world’s most attractive places to live – and genuinely unique among Western European, English-language jurisdictions. Protecting what makes Sark special is also very much part of these plans, for which we have retained the advisory services of one of the leading planning organisations in the world.

Our base case is to deliver an initial 100% uplift after 3-4 years (IRR of 20-26% p.a.).

Harris “Kuppy” Kupperman will join the board of the Sark Property Company. Winning his firm as anchor investor in our SPV is a major milestone. His Praetorian Capital Fund LLC has returned >10x net since inception in 2019 and ranks as one of the best-performing funds in the world.

For more information, contact Swen Lorenz.

Disclaimer: This blog is intended for informational purposes only. This blog is not intended to invite, induce or encourage any persons to engage in any investment activities and is not a solicitation or an offer to buy or sell any stock, investment product or other financial instruments. If in doubt, please seek financial advice from an independent financial adviser. Sarnia Asset Management is licensed by the Guernsey Financial Services Commission (GFSC). Past performance is not an indication of future returns. Investments carry risk, including the risk that you will not recover the sum that you invested.

By Sarnia Asset Management

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