RBC in Guernsey have announced that they are not leaving the island after Elizabeth College purchased their current premises.
The wealth management group who have been situated at Canada Court for the last thirty years are relocating to another office in St Peter Port.
They are expecting to move during late 2019.
Elizabeth College has said that the opportunity to acquire the land and buildings adjacent to the college is just too good to miss.
RBC have said they are pleased that their current base will help educate the next generation of islanders.
Meanwhile, the independent boys school and the building’s owner are working on a planning application for change of use of the building, to educational facilities and this will be submitted before the end of June.
It is relying on a range of funds to redevelop the building and has said it will have to borrow to achieve the results it wants.
They hope that the redevelopment will be completed before the end of 2019.