Villiers Site purchased by Tevir Group

Media Release: 22nd October 2018

Isle of Man-based Tevir Group has announced the purchase of the buildings and land comprising the ‘Villiers site’ in Douglas, Isle of Man, by Tevir Properties (IOM) Limited.
 
The Group were assisted with the acquisition by local estate agents Black Grace Cowley and the purchase of the site incorporates Villiers House (formerly RBSI House), Clarendon House and land including a development plot and the area known as the ‘town square’.
 
The Group has liaised with representatives from both the Isle of Man Government and Douglas Borough Council over the course of the last few weeks with regard to development of the town square and a comprehensive clean-up of this part of the site starts today (22nd). Local architects and urban designers are being engaged to progress the first phase of a project that will ultimately lead to a contemporary public space being developed.
 
In respect of the buildings and development plot that form the other parts of the site:

·       The vacant Villiers House will be subject to an extensive refurbishment;
·       Clarendon House is fully tenanted. The Group will work with tenants to achieve a smooth handover of services;
·       Long term plans for the development plot are currently being considered. 
 
The purchase of the Villiers site reflects the Tevir Group’s ambition to progress significant development projects in the Isle of Man, which will ultimately benefit the local business community, residents and the broader economy in the Island.

ENDS

Issued by RS Marketing and PR Ltd on behalf of the Tevir Group