The 25,000-square-foot development is now owned by Talisman Pensions Ltd, which has bought the residential and retail site from a UK property group called Kenmore.
The new owners of the St Brelade development, which includes the shops and flats around the upper car park, the next door precinct and the lower car park, bought the holding company, called KAV, on Friday.
They were represented by chartered surveyors Buckley and Company and by Ogier & le Masurier law firm.
‘Talisman plan for it to be business as usual for tenants and customers although, like any new asset, they will carry out a full review of the site,’ said Simon Buckley, whose company will manage the Parade on behalf of Talisman.
‘The new owners are fully aware of the recent history of the site and how unsettling it has been for occupiers and it is something they have taken on board.
The development has, of course, been bought on the basis that all existing leases are honoured so there is no need to fear any automatic price hikes.
Les Quennevais Parade was once part of the eclectic business stable of Kevin Leech but he sold it to fellow Island resident David Kirch in the face of financial difficulties.
Mr Kirch in turn sold it to Edinburgh-based Kenmore.
Last year the site generated £925,000 in rent for the company.
