Knight Frank to sell Barclay hotels on Sark

Channel Island properties put on the market in effort to raise funds amid bankruptcy threat

A MEMBER of the Barclay family has called in estate agents to sell more than 100 properties on Sark, as part of efforts to raise cash under the threat of bankruptcy.

Alistair Barclay, 34, has enlisted

Knight Frank as he races to pay down debts.

It comes as Mr Barclay, the youngest of Sir David Barclay’s sons, faces the threat of bankruptcy in Britain after he was hit with a petition from a leading private bank.

The family has said the court action is a personal matter unrelated to their business interests.

Sark, one of the Channel Islands where cars are prohibited, has been linked to the family since twin brothers Sir David and Sir Frederick acquired the nearby island of Brecqhou in 1993.

It is understood Alistair, co-founder of the online estate agent Yopa and a motor racing driver, inherited the parcel of properties when Sir David died in 2021.

Any sale of Sark properties would not include the family’s private castle on Brecqhou. Sir David’s and Sir Frederick’s sides of the family fell out over debts and control of their businesses, which include The Telegraph and the online retailer Very.

The Barclay family regained ownership of The Telegraph in December after repaying £1.2bn in overdue debts to Lloyds Banking Group. They are barred by law from exercising any control, however.

The Barclay family’s activities on Sarkhave caused controversy as Sir David and Sir Frederick were embroiled in conflict with the island’s leaders. The brothers objected to Sark’s ancient constitution and particularly the powers it grants to the unelected seigneur.

It led to the Barclay brothers closing businesses in 2008 after their candidates for Sark’s first-ever democratic elections were defeated. Some of the family’s hotels have remained shut.

Christopher Beaumont, the 23rd seigneur of Sark, is leading an attempt to acquire some of the Barclays’ assets as he tries to boost footfall on the island.

He said that the family’s legacy on the island is “one of destruction”, as he claimed some of their properties have been left in a state of disrepair.

Alistair Barclay’s attempt to raise funds has also led to him seeking a buyer for a seven-bedroom town house in Chester Square, Belgravia, which is currently being marketed by Knight Frank for £14.9m.

Investec, which only offers bank accounts to individuals with net wealth of more than £3m, is pursuing Mr Barclay after he allegedly defaulted on £946,754 worth of borrowings.

Court filings show that he has also failed to refinance separate personal borrowings of £22.5m from Deutsche Bank.

Alongside his much older half-brothers Aidan and Howard, he is part of a trio who control the majority of the Barclay family’s business interests via an offshore trust.

The Barclay family and Knight Frank declined to comment.