Hotbed, a specialist supplier of alternative asset investments, purchased 17a-18 Esplanade from Legal & General.

The property is currently occupied by SG Hambros Bank (Channel Islands) Ltd.

The purchase has been structured to make it easier for onshore and offshore investors to invest.

Andy Taylor, head of property at Hotbed, said: ‘We’re happy to have acquired this prime office investment which has excellent prospects for rental and capital growth and is let to a quality covenant.