Plans to buy more than 100 Sark properties owned by the billionaire Barclay family

More than 100 properties on Sark previously owned by the Barclay brothers could be sold after a new company formed an interest in taking over the estate.

The Sark Property Company has been set up by the island's seigneur, Christopher Beaumont, and entrepreneur Swen Lorenz - aiming to "transform the island".

The estate owned by Alistair Barclay - the son of the late Telegraph owner Sir David Barclay - makes up around a fifth of Sark's landmass.

The family also bought the neighbouring island of Brecqhou in 2007 and built a castle on it as a private residence.

The takeover bid aims to help Sark deal with its current shortage of housing, insufficient facilities for residents, and significant financial challenges.

Christopher Beaumont says: "Sark has gone through a difficult period in its history and it’s time to bring that to a close and write a new chapter for the island; securing and improving Sark’s situation for generations to come and giving them a future to be excited about.

"Our company is working to secure the best possible outcome for the long-term sustainability of the community."

He added that this would "in the immediate term" open "job opportunities straight away"

If the company's bid is successful, its directors plan to sell shares on the London Stock Exchange, as well as the Guernsey-based TISE - The International Stock Exchange.

Swen Lorenz said: "If Sark Property Company lists on the stock exchange we’ll be setting aside free shares for every permanent Sark resident.

"We want to work with the government and people of Sark and encourage them to get in touch with us if they have any questions."

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