The company that recently bought the retail and residential site – Talisman Pensions Ltd – has decided to sell the 34 flats above the shops in the parade as flying freeholds.
It is offering the units to current tenants although two vacant flats will be sold on the open market.
A two-bedroom maisonette has recently been advertised for £158,000.
Simon Buckley, whose property company is managing the site on behalf of Talisman, said the owner was selling the flats to concentrate on retail property.
‘Selling the flats will reduce Talisman’s debt and allow it to focus on the commercial part of the site,’ he said.
‘Current tenants are being given the first opportunity to purchase but no one will be kicked on to the street if they decide not to buy.
Les Quennevais Parade was once owned by former billionaire Kevin Leech but he sold it to fellow Island resident David Kirch in the face of financial difficulties which eventually led to his bankruptcy.
Mr Kirch in turn sold the 25,000 sq-ft development to Edinburgh-based property investment company Kenmore.
Kenmore sold it to Talisman in March for an undisclosed amount.
